Fraudulent Transfer of Apartment to Trust Case Continues in New York

In a current fraudulent transfer case in a New York district court, the government is attempting to set aside what they describe as a fraudulent transfer of an apartment by defendant Albert Nassar. Nassar transferred the apartment to a trust that he both created and is trustee, and that his two children are beneficiaries. Nassar transferred the apartment while facing unrelated criminal charges and financial liability. Nassar lived in the apartment, but his children did not, and consideration for the transfer to the trust was $10.

In United States v. Nassar, the court denied Nassar’s motion to dismiss the case, finding that the facts plead by the government were enough to show fraud for the purpose of surviving the motion to dismiss. Additionally, the court refused to consider additional information provided by Nassar to support his motion, but excluded from his pleadings.

See Dawn S. Markowitz, Fraudulent Conveyance Claim Upheld, Wealth Management, Nov. 13, 2014.

Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.