$35 Million Newly Listed 34,000 Square Foot Mega Mansion In Boca Raton, FL | Homes of the Rich – The #1 Real Estate Blog


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  • Phil

    Most impressive collection of arcade machines I’ve seen on this site so far! As for the rest of the home, meh.

  • Daniel

    Nothing in Woodfield has sold for over $10 million. The asking price is there to garner attention to the home…not a realistic starting point for negotations. It’s not a bad home. I can see this being picked up by some sports star with a big family. It would be an awesome place to call home if you were a pre-teen. Good luck keeping the kids grounded!

  • Cindy

    Law
    Offices of David Yerushalmi Wins Judgment Against Marc Bell and Daniel
    Staton

    November
    11, 2014

    FEDERAL
    COURT: Porn merchants Marc Bell and Daniel Station owe creditors
    millions

    Nov.
    11, 2014 – NEW YORK — Last Tuesday a federal court in
    Manhattan issued its ruling finding that Marc H. Bell and Daniel C. Staton, who
    have made millions through thousands of websites peddling pornography, owe their
    creditors millions of dollars personally and through their shell company,
    Strategic Media I LLC.

    Judge William H. Pauley III, one of the most
    respected judges sitting in the Southern District of New York, granted the
    Senior Creditors summary judgment on their claims that Strategic owed them more
    than $20 million on defaulted note payments dating back to December 31, 2011.
    Judge Pauley also granted the Senior Creditors judgment against Bell and Staton
    personally for $2.4 million, which today, with interest, exceeds $3
    million.

    Finally,
    the federal court also ruled that the Senior Creditors may pursue their alter
    ego claims against Bell and Staton, which if successful, will require Bell and
    Staton to pay Strategic’s $20 million plus obligations personally.

    Lead counsel for the Senior Creditors, David Yerushalmi, with offices in New
    York and Washington D.C., responded to the judgments: “Marc Bell and Daniel
    Staton live and work in Boca Raton, Florida, and present themselves to their
    business associates and communities as upstanding and successful businessmen.
    What we’ve discovered in this litigation is that both men are deadbeats who made
    millions peddling pornography and then left their creditors and investors
    holding the bag—unfortunately, an empty bag.”
    Yerushalmi was
    referring to the fact that Bell and Staton took FriendFinder Networks (FFN)
    public, raising $50 million from public investors, only to have it file
    bankruptcy and wiping out all of the public shareholders. While FFN presented
    itself as the adult version of Facebook, it turned out to be little more than an
    aggregate of pornography websites that allowed “hook-ups” between users. FFN,
    however, was never profitable, even as Bell and Staton skimmed millions in
    various payouts from the company.
    Prior to the FFN IPO, Bell and
    Staton had to settle various legal claims made against them by creditors, who in
    turn had acquired FFN shares. To clean up FFN’s litigation outlook to entice an
    underwriter to take FFN public, Bell and Staton obtained releases from the
    creditors, including the Strategic Senior Creditors, and promised that Strategic
    would pay their creditors more than $30 million by December 31, 2011. After
    taking FFN public and raising $50 million dollars, however, Bell and Staton paid
    their creditors nothing and had FFN file for bankruptcy.
    Bell and
    Staton have been in involved in several deals with public companies, making
    public representations about their business acumen and sophistication. For
    example, Bell and Staton are connected to various publicly traded real estate
    investment trusts, such as Armour Residential REIT (NYSE: ARR) and Javelin
    Mortgage Investment Corp, (NYSE: JMI). Both public companies continue to pay
    Bell and Staton millions every year through layered sub-management
    agreements.
    Yerushalmi noted the irony: “Notwithstanding the millions
    of dollars Bell and Staton have taken from the public investors of these various
    entities, they are deadbeats who could care less about the public, who has been
    robbed of all their share value. Instead, Bell and Staton hide behind very
    high-priced Manhattan lawyers to avoid paying their personal and corporate
    obligations. One must suppose that their personal ethics are in line with all of
    the other online porn merchants.”
    Yerushalmi concluded: “You can
    count on one thing: we will not rest until we collect our clients’ millions from
    Bell and Staton. We will find and track their hidden assets. We will watch to
    see if Armour Residential REIT (NYSE: ARR) and Javelin Mortgage Investment Corp,
    (NYSE: JMI) make the requisite disclosures to their investors about the company
    they keep. We will expose both men as deadbeats who have made their livelihood
    through the sex trade and who use bankruptcy and corporate shells as a game.
    One federal court in Manhattan, however, has begun to put a stop to that
    game.”
    The federal lawsuit is captioned Cougentakis v. Strategic,
    Case No. 1:13-cv-8361.

    The Law Offices of
    David Yerushami, P.C. is a
    boutique litigation firm, established in 1984, with a reputation for the highest
    quality work product and trial and appellate advocacy. David Yerushalmi is
    an AV®Preeminent™ rated
    lawyer licensed to practice in New York, Washington, D.C., California, and
    Arizona and is a member of federal district and circuit courts throughout the
    country, as well as a member of the bar of the United States Supreme Court.
    Visit us at http://www.davidyerushalmi.com.

    Source:

    http://www.prlog.org/12393833

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