Africa Israel Investments Ltd., a real estate company controlled by billionaire Lev Leviev, was barred from offering securities including condominiums in New York pending a fraud probe by the state attorney general.
Chagit Sofiev-Leviev, daughter of billionaire Israeli real estate developer Lev Leviev, is at the center of a lawsuit over Taly Diamonds (N.Y.) Ltd., a New York precious-stone business that she half-controls.
Richard Marin , former chief executive officer of Africa Israel USA , sued the company and its Israel- based parent, saying he was fired after uncovering “serious instances of self-dealing and conflict of interest.”
Africa Israel USA, billionaire Lev Leviev’s U.S. real estate unit, agreed to sell 88 Leonard, a luxury apartment building in Manhattan’s TriBeCa neighborhood, in a deal the company values at about $222 million.
Africa-Israel Investments Ltd. fell to the lowest level in almost a year after Globes business daily reported that the real estate company owned by businessman Lev Leviev may need to restructure obligations in 2014.