Embattled investor Moshe Silber files for bankruptcy, claims he's broke
Moshe Silber has filed for personal bankruptcy, citing a lack of property, income, and assets, despite previously owning a 10,000-unit multifamily portfolio and flaunting items and investments worth millions.
According to court filings, Moshe Silber, a once-prominent real estate investor, has filed for personal bankruptcy in New York's Southern District. The filing comes as creditors circle the imprisoned Silber, who claimed to have no property, income, or assets.
Silber's bankruptcy filing presents a drastically different picture than his financial statements from just three years ago. At that time, Silber boasted a portfolio of 10,000 multifamily units and owned luxury cars, jewelry, and even a private jet. He also had multiple homes in upstate New York and owned a portion of a bank in Westchester County.
The sudden change in Silber's financial situation has raised eyebrows within the real estate community and has led some to question the veracity of his previous claims. One source, who wished to remain anonymous, commented, "It's hard to believe that someone who had so much just a few years ago is now claiming to have nothing. Something doesn't add up."
Silber's bankruptcy filing also highlights the risks and challenges faced by investors in the real estate market. Despite owning a large portfolio, Silber's financial mismanagement and alleged fraudulent activities have left him with nothing.
As for Silber himself, he remains imprisoned on charges of bank fraud, wire fraud, and money laundering. With his bankruptcy filing, it appears that his once-lucrative real estate empire has crumbled, leaving him with nothing.