NY Developer Faces Collection Action After 'Lavish' Pics

Law360 (September 12, 2018, 11:08 PM EDT) -- A construction executive misused money meant for a luxury New York City condominium project and failed to repay a related $4 million loan while flaunting his “lavish lifestyle” on Instagram, a group of lenders said in a collection action filed Tuesday in state court.

Churchill Real Estate Fund LP, Specialty Credit Holdings LLC and two Silver Point Capital LP entities said in a summary judgment motion filed in lieu of a complaint that Jason Lee, president of Six Sigma NYC, guaranteed he’d repay the loan but hasn’t kept his promise. The money borrowed by 19 Highline Development LLC was intended for...

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