Aaron Yashouafar Bankruptcy Fraud Allegations, Robert Paisola Wire Report


SKY LAS VEGAS LAWSUIT UPDATE- We just  received an official confirmation that all of the 79 units at Sky Las Vegas that are owned by the developer, are going to have the power to their units cut off on April 3, 2011.  We were shown the actual stack of certified letters that were required to be sent to the unsuspecting tenants of the units.  We have covered this issue before in great detail and now that the Interim Executive Director is in place, the gift of fiscal oversight is now gone.  We are told that that the residents of this building have been paying monies to the developer Massoud Aaron Yashouafar or years, however the payments never seem to have made it to the Sky Las Vegas HOA. This is part of a series of articles that chronicilize the business dealings of Massoud Aaron Yashouafar from Coast to Coast.  Keep Reading.

This is an HSK exclusive that has uncovered a family who is seriously one of the worst economic parasites both on the court system and to the citizens of Los Angeles.

Just because you fork out millions of dollars on property, doesn’t mean you have the immediate right to move in — That is, if the property we’re talking about was once owned by Massoud Aaron Yashouafar. Meet Massoud Yashouafar. Here’s a man who has reportedly swindled a fortune from renters and homeowners across the nation, and now that he’s facing a financial crisis, he is fighting to keep his foreclosed Beverly Hills mansions.

They are located at 9439 Sunset Blvd., where he has family members who are non English speaking squatting the place in a dilapidated house living like peasants in the Alborz Mountains.

There are also the 910 Rexford Dr., and 580 Chalette Dr. properties. Massoud Yashouafar and his wife, Parinaz Yashouafar, live on the Rexford Dr. property while Solyman Yashouafar and Soheila Yashouafar live on the Chalette property. They were both set for trustee’s sale on March 2 and 3 by Pacific Western Bank but on the day before the sale, Massoud and Solyman transferred their houses to a Delaware real estate company named Sambria Realty, LLC. Sambria Realty LLC. was formed just one month prior on 01/31/2011.

They formed it just days before they went to Court to get a T.R.O. which they obtained then lost. This was their back up plan which has now moved forward into federal court. Sambria Realty, LLC then filed a Chapter 11 in the United States bankruptcy court. HSK is told the United States Trustee’s office is looking into whether this was a fraudulent bankruptcy as Massoud signed the petition and it is his company! What a scam! Jacky can’t believe these people.

Here is what HSK has further learned and believes. The problem Massoud Yashouafar has is that one of those high end homes has since been bought and paid for. Now, Yashouafar (who is well versed on the ins and outs of real estate law) is reportedly manipulating the system in order to buy time to pay his creditors and let his free loading extended family live there for free.

While 99% of the Persian Jewish community are some of the hardest working people in California, con artists like the Massoud Yashouafar and Ezri Namvar are pariah’s on what is one of Southern California’s hardest working communities. These economic terrorists prey on the weak and their own ethnic trust by their own community members.

Numerous Persians living in Beverly Hills were interviewed for this story but they don’t want to go on record because they are afraid the Yashouafars will sue them or call them to explain in Farsi. The goal of this piece is to simply let as many people know what is really go on with this little second rate Madoff. Persian residents of Beverly Hills are outraged as this gives them all a bad name and breeds prejudice against them.

The facts are as follows:

On January 13, 2011, a professional foreclosure business paid $5,800,000.00 in cash after winning the bid on Beverly Hills property located at 9439 Sunset Boulevard, formally owned by Massoud Yashouafar. Since there was debt in front of the $5.8M second, the total price the buyer paid was over $7.7M. This, after the home was foreclosed upon on December 13, 2010, and was publicly listed for sale beginning on January 6, 2011. Now, Massoud Yashouafar argues the sale of the home should be void because of frivolous formalities including who the Trustee was at the time of the sale, options other than foreclosure of the property were not explored for him, and the trustee failed to post notice of the sale. But the bottom line is this: the property was paid for, and Massoud Yashouafar is $33,000,000.000 in debt, that was against the property until the foreclosure sale.

But the 6,891 square foot, seven-bedroom, seven-bath, 30 year old dilapidated Sunset Boulevard home isn’t the only piece of property at the center of Yashouafar-related litigation’s. Not coincidentally, as stated above, the trustee sale of Yashouafar’s 910 Rexford Drive Beverly Hills mansion was continued from February 4, 2011 to February 24, 2011 – due to the Yashouafar’s going into another Court and asking for a delay. The hearing was held on February 23, 2011. No one can argue that here too, Yashouafar has manipulated the system to buy time to delay paying his creditors. The Yashouafars lost that hearing and the preliminary injunction was denied. As stated above, they then transferred the property into their own real estate company which they then filed a bankruptcy for.

The reason why these people are Little Madoff’s is because they borrowed $2M from an elderly Jewish man in New York named Sina Abselet. They never recorded the loan until it was behind two bank loans. He is now going to lose the $2M that was cross collaterized on the Chalette and Rexford properties. As they were going out on Chalette, Solyman somehow got Fereydoun Dayani to lend them a $1M in October of 2010. If this wasn’t good enough, they conned an invalid named Howard Abselet, Sina Abselet’s son, to give them $6M to be secured by the Sunset Blvd. property.

He was wiped out in the sale on January 13, 2011
What is truly shocking is they enlisted their business partner and friend, Hamid Joseph Nourmand, the nephew of the elderly Sina Abselet and a well respected attorney in Beverly Hills, to arrange for Howard Abselet’s investment and represent him in the transaction. He also handled Sina’s as well. Obviously, the state bar is going to revoke his license when Howard Abselet’s attorneys are through with him but what is shocking is that HSK discovered that on August 14, 2002, for a sweetheart price of $2.6M, none other than Massoud Yashouafar sold Hamid Joseph Nourmand and Doris M. Nourmand, their house at 722 N. Bedford Dr. Doris Nourmand is a M.D. and a well received one as well. In addition, when HSK went to go by to interview them, they had a large armed security guard posted in front of their house. How many people have they screwed over to warrant this type of protection?

The Yashouafars presently have the following cases to show what a drain they are to the court system:
They have a lawsuit against Pacific Western to stop the foreclosure which the Court denied that request for their Chalette and Rexford properties.

They have a lawsuit against the buyer at the Sunset Blvd. property. Fortunately, on March 3, 2011, another judge granted a motion to expunge their lis pendens and denied their attempt to get a restraining order against further transferring the property.

They are defendants in a lawsuit in front of a third judge in the same courthouse in Santa Monica set for trial the first week of April where they are looking at a $20M judgment where an attachment has already been issued.

They have an in pro per bankruptcy, meaning they filed it without an attorney for their company Sambria Reality, LLC. Only problem is, companies can only appear in court through attorneys. Jacky knows his law, let me tell you.

All the while, Massoud and Parinaz Yashouafar’s house is lined with Bentleys, Ferraris, and other luxury motor vehicles. How disgusting can one family be? They are living off the Abselet’s $8,000,000.00, the Dayani’s $1,000,000.00, and the bank’s $9,000,000.00. Give Jacky one of those vehicles bought with other people’s money mane!

Massoud Yashouafar may be late in paying his dues, but he has never been late when it comes to collecting money from those who have rented property from him. In fact, his tenants have all contributed to the Milbank Real Estate tycoon’s lavish Beverly Hills lifestyle, while he compromised their quality of life. Now, the man who’s dubbed “One of New York’s Ten Worst Landlords” is a nationally credited slumlord who maximized his profit by drastically minimizing spending on property maintenance (if any), often in deteriorating neighborhoods, while leeching away the wealth of the poor who rent from him. Some of his rental properties have racked-up more than 500 unresolved violations, others have been condemned and several are (like his residential properties) being foreclosed upon.

When Yashouafar purchased nearly 20 Bronx, New York buildings back in 2006 (one year before buying his Sunset Boulevard residence), he promised his family-owned real estate development company Milwood Holding Corp. planned “revitalization would occur by infusing the capital necessary to improve the condition of the buildings.” That never happened. In fact the conditions were so bad — one couple with a new born baby, Luis Delatores and Erica LaGuerra, were forced to move from their top fifth floor unit inside one of the Bronx properties to a second floor unit after the leaking roof lead to the new mother’s fall down a set of soggy stairs, leaving her with an injured back. The new parents were also forced to travel across the city to shower at their in laws’ home because their shower was not working for several months. That’s a far cry from the sort of lifestyle Yashouafar has lived in Beverly Hills.

Tenants at another Yashouafar-owned Bronx property were forced to endure frigid winter temperatures inside their homes because both heat and hot water were absent from the building for six consecutive months. Those residents eventually took action in the form of a protest, where they displayed signs posted with “No Hot Water! No Heat!” and showcased rats which they caught inside of their units. In another desperate attempt to take action, residents of another Yashouafar-owned Bronx property contacted the press after living without a working elevator, forcing some elderly and disabled residents to face the daily challenge of climbing up several flights of stairs to get to their units daily. The countless cries for help by tenants eventually gained some attention, but Yashouafer himself never responded. One court-appointed receiver for ten of the foreclosed upon Bronx properties, Joe Cicciu, said “We go to some of those apartments and try to fix things, patch things up, to give people a chance to live in decent apartments. But for the people with the collapsing ceilings, we are trying to relocate them into vacant units. The problem is, most of the vacant units need a gut renovation! And we don’t have the dollars for that anymore.”

And while there was no money for Bronx repairs to be found — on the other side of the country, residents of a Yashouafar-owned Nevada property, Paradise Spa, are wondering why close to a million dollars in fire insurance money is missing.

hsk exclusive Massoud Aaron Yashouafar

85-year-old Iris Hokanson is one of those Paradise Spa residents. “I don’t know what to say about it except that there are a bunch of crooks in here,” says Hokanson. The elderly woman is still forking out monthly payments on her unit which was condemned by the state of the Nevada after fire ripped through her home, last January. “All the money that I’ve already paid and I still owe money, and I have nothing. And no place to move back in. And I don’t know what I’m going to do,” says Hokanson. According to public record, $842,871.84 in insurance money, meant to finance fixing the building, was collected and reportedly delivered to directly Massoud Yashoafar’s Los Angeles office. The problem is not one penny of that money was invested back into the fire torn building. “When we found out that most of the money is either gone or absconded with, I said this is unconscionable. This is the worst case of elder abuse I’ve ever seen,” says former Nevada State Senator William O’Donnell.

This guy Massoud Yashouafar is a scumbag! That’s why he and his brother fled from Iran back in the 70′s. (For those of you who may not know, that’s when Iran’s government was much like Egypt’s now…crooked. As a result, the Iranian people revolted against the Shah of Iran…but unlucky for the people of Iran when the crooked dictator was removed, another one took over.)

Guys like Massoud Yashouafar and his brother who is like the Ali Hassan al-Mahid to Massoud like he was to Saddam, support that sort of crooked governing, and have no problem with keeping people in bondage. That’s why he fled to America only to follow that same unlawful practices. Someone should tell Massoud and his family that America is not Iran, and we will not allow criminals to get away with crime…we will shine light on them and bring them to justice! Some of you may be wondering why Jacky is so upset with Massoud Yashoafar. Know why? Because Massoud ripped off my homey’s grandmother mane, and ripping off the elderly is not cool in my books.

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