The amended complaint specifically targets assets, allegedly purchased with these “illegal proceeds” of Howard Lederer and Ray Bitar, as two of the four previously named “FTP Insiders”. (Chris Ferguson’s and Rafe Furst’s assets are not specifically called out in the complaint at this time, although they are also reiterated as members of the “FTP Insiders).
As to Lederer, the complaint now shows the tracing of Lederer’s money from FTP, from approximately December 2006 through September 2011, where at least $44,314,997.31 in United States currency that was directly tied to the criminal conduct described, was deposited into his bank accounts. The complaint alleges that no other moneys from other sources were deposited into his cited accounts.
According to the complaint, between approximately December 26, 2006, through approximately August 2, 2011, at least approximately $42,470,660 of the above-identified illicit funds that had been deposited into the Lederer Consulting Account were transferred into a personal bank account owned by Howard and Susan Lederer.
After that time, the complaint breaks down each check or wire transfer that left the personal account. The funds were used to purchase/pay for real estate, renovations, new home construction costs, furniture, mortgage payments, property taxes, personal pension plans and 401K’s, and various personal vehicles including a Maserati and a vintage 1965 Shelby, as well as numerous Audi family cars.
As to Bitar, two of the homes in his name in Glendora California, previously mentioned in prior complaints, were shown to have been purchased with monies fitting the same category of “illegal” proceeds. In addition, a property in Fontana, California was purchased by a California LLC, where a Bitar family member was the owner of the LLC. Eventually Ray Bitar was added to the ownership, and category monies were transferred from Bitar to the LLC. He also loaned money to the LLC to aid in construction of a gas station on the property. Bitar allegedy collected interest on this loan as well.
By calling these expenditures traceable to “illegal proceeds” from the “illegal enterprise”, SDNY classes each of the aforementioned properties as forfeitable. The USAO now also asks for a judgement to be entered against each of the “FTP Insiders” as follows:
Bitar: an amount not less than $40.8 million;
Howard Lederer: an amount not less than $42.5 million;
Chris Ferguson: an amount not less than $42 million;
Rafe Furst: an amount not less than $11.7 million;