Zygi Wilf’s Ongoing Legal Battle in New Jersey

Zygi Wilf had a busy week, splitting his time between trying to convince Minnesotans to give his company hundreds of millions of dollars, while simultaneously appearing in a court case in New Jersey, where he’s being sued for screwing a business partner out of more than $20 million:

In between his appearances, he flew to Minnesota for a news conference to announce he had reached an agreement with local officials to build a new stadium for the Vikings in suburban Minneapolis. Wilf bought the Vikings in 2005 for a reported $600 million.

So, what’s the lawsuit about? Here’s an excerpt, but it’s worth clicking through to read the whole thing.

Ada Reichmann, the wife of a Toronto-based developer, had been a 25-percent partner in Rachel Gardens, a 764-unit apartment complex. Wilf declared Reichmann wasn’t contributing to the cost of the project’s development and removed her 25 percent share.

Reichmann quickly filed suit.

Her brother, Josef Halpern of Brooklyn, also owns 25 percent of the partnership. He joined the suit in 2009, claiming he’s been systematically cheated by the Wilfs over the years.

Together, Reichmann and Halpern claim Wilf and two relatives cheated them out of more than $20 million in revenues from the project. The family ran what amounted to “organized-crime-type activities” in its bookkeeping for Rachel Gardens, Halpern’s attorney, Alan Lebensfeld, told Superior Court Judge Deanne Wilson during the non-jury trial.

This is the guy we’re considering going into business with? I already consider Zygi Wilf a welfare queen, but it looks like there is even more to Zygi than I knew. It’s one thing to honestly screw people out of their money. It’s something entirely different to dishonestly screw them.

If Zygi wants to build a stadium with private money and screw over private companies that do business with him, that’s his prerogative. But, I don’t want my city, county, or state to enter into a business relationship with the guy. I don’t trust him.

9 thoughts on “Zygi Wilf’s Ongoing Legal Battle in New Jersey”

  1. Although I am no fan of the stadium proposal, I wonder how germane this lawsuit in Jersey is to it.

    Are there other lawsuits? Other judgements against the Zygi?

    I would find it unusual if a multi- hundred millionaire real estate magnet did not have few lawsuits going on.

    I would like to see more of a pattern before I passed any judgements on the zygsters business dealings.

  2. Really, 19 year old lawsuits from his own business partners is no big deal anymore…I mean this is dog bites man stuff now?

    Well then, I guess the stadium deal should stick to the facts here in MN, which is that the NFL–like Social Security, Medicare, and Medicaid–are luxuries that our modern society can no longer afford to support.

    The NFL has become a hobby for the rich–those players and owners and skyboxers that can afford to play around. Certainly not an untouchable budget item since a person like myself cannot even afford to be a spectators to their folly, and given that people are literally dying as state’s cut funding, it seems criminal for society to continue funding NFL-related corporate welfare from our pockets.

    If we are to fund his business, then to offset the expense, there should be a society monetary gain–we should demand an ownership position equal to our contribution AND a share of all future profits based on this timely investment. If not…Go Vikes, Go.

    The NFL was always a luxury, but one that people once understood to be what it was–a game, something to do on a Sunday afternoon after church and before the family chicken dinner. But now all parties have deluded themselves into thinking it ever was more than that.

    But that was when people had jobs and comfort at home, and it was easy to pretend we had this luxury to share.

    But times have changed. Alas, a new NFL stadium does zero to benefit society, for years, if not forever…and now when people are talking about cutting jobs, reducing gov’t spending on education, social security, medicare, and medicaid, how are we supposed to spend it on a football stadium, to subsidize a game in a trillion dollar industry, just as it fights to lockout its players that we are supposedly fans waiting to watch? Players whose names change each year…Quick, who wears number 80 for the Vikings now?

    But so too we now have this revolving door with team owners, who more and more often none even bother to become part of our community, mere seasonal workers and their absentee owners. Quick, name me the last MN owner of the Vikings?

    And what year did he sell out? And did he share his profits with us, his community, or did he take them out-of-state.

    So, is this just how it works now? And citizens merely have to stand idle, pay for these owner’s fun & games, and we clean up their messes when they sell out…while potholes go unfilled, while bridges fall into the Mississippi?

    Just so the rich can enjoy their hobbies while I’m forced to spectate and pay for their excess. I want no part of it, just like that wall street bailout I feel no need to play this game.

    In the meantime, for the countless generation of rich people supported by the masses, my one consolation seems to be–Hey all you Zygi’s, I heard it is harder than passing a camel through the eye of a needle, so I don’t even need to tell you where to go.

  3. Hey, Ed, not that many other people from New Jersey have any love and care for Minnesota. But, there’s Zygi.

    He even wears purple ties. What can anyone have against that.

    He wants to rob the people, but is that unique?

    The truth is the entire NFL game is about TV, advertising income fueling the parade as much as it does Google. And the televising from the Metrodome has been fine so Zygi, put some cash into fixing the roof, and accept it.

    Or do I misunderstand things. If he thought for one minute he could get away with more cash and league blessing, it would be the Omaha Vikings, the LA Vikings, the Little Rock Vikings, and it would happen so fast Zygi’s movement would break the sound barrier. Bless Zygi.

  4. Dear Minnesota Residents

    The Halperns are one of the wealthiest families in New Jersey. Please do not think that the Halperns are a bunch of idiots that routinely have their money stolen.

    This is just another example of two wealthy New Jersey apartment owners fighting over money. Nothing new for the Garden State.

  5. “Nothing new for the Garden State.”

    I might be wrong, but I think 20 year old lawsuits would be new for Minnesota…is that where Zygi will finally be a community leader for MN?

  6. The tone of this blog is a little to personal to say it is coming from an impartial perspective. If you want to be a 25% owner you need to put 25% in of all expenses, that’s how it works. From the sounds of this, I dont think Ziggy is saying he does not owe this family money, he is simply saying they are not a 25% owner because they did not fulfill their 25% obligation – that is not screwing anyone, that’s common sense thinking. It s those who have the sense of entitlement regardless of their actions that has gone wrong not only in this case but in society.

Leave a Reply

Your email address will not be published. Required fields are marked *