Solomon Dwek Arrested in Monmouth County Over 22.5 Million in Bounced Checks
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The sordid tale of Solomon Dwek will continue on far into the future as he has now been arrested in connection with the bouncing of 22.5 million dollars worth of checks and fulfilling an amazing trial of deception that threatens to be the trial of the year in New Jersey. Over 100 attorneys representing different clients packed a courtroom to put in claims against Dwek and a portfolio of over 200 homes.
Superior Court Judge Alexander D. Lehrer appointed a prominent area lawyer Friday to act as a clearing-house for untold numbers of claims against Solomon Dwek’s frozen portfolio of some 200 properties in New Jersey and elsewhere.
“There is absolutely no reason to panic,” Lehrer told the packed courtroom, literally overflowing with more than 100 bankers, lawyers, property owners and investors, in what lawyers called an unprecedented courtroom spectacle in Monmouth County. “The chaos, speculation and uncertainty will end here, now,” he said.
Those attending were worried they, or their clients, may lose millions of dollars in a possible collapse of Dwek’s real estate empire.
Dwek was arrested Thursday by the FBI on federal charges of defrauding PNC Bank of nearly $22.5 million and attempting to defraud it of $50 million. via APP.COM
Solomon Dwek was arrested on Thursday and brought into court on charges of attempting to defraud PNC Bank for 22.5 million dollars. Dwek was released on 3 million dollars bail.
A copy of the charges against Solomon Dwek.
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The only people holding off will be those that are financially secure and can manage to hold off. How ...
What an awesome way to generate traffic for a story. Were they trying to time that for Sweeps Week? ...
That's awful. I wonder if using that tactic , if a building can be sold or used as collateral. ...
Good point about people possibly holding off now. The 4.5 percent interest rate could be a self-fulfilling prophecy. 
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I will say that had I never been to that site and seen Dean's many deals that he documented and ...
Great Real Estate
post ... very interesting. 
