A Morgan Stanley wealth management executive has reportedly won a legal battle to keep a luxury condo that was seized from the 1MDB scandal.
Morgan Stanley managing director and private wealth advisor Ron Vinder will keep his Manhattan-based condo, according to a «Bloomberg» report citing a ruling by New York Superior Court Justice Paul Goetz.
The ruling was related to the condo board’s decision to sue to eject Vinder and his family from the building following a vote to void the sale of the Walker Tower unit in Chelsea.
First Refusal
Vinder’s bought the condo from U.S. Marshals Service for $18.25 million in 2020 as part of the seizure of 1MDB assets that totaled more than $1 billion. The Walker Tower board said that its bylaws gave it the right to first refusal to any condo sale in the building and also claims that the sale was made at a deep 64 percent discount.
But according to Goetz, the complaint was dismissed because it did not include as one of its parties the U.S. government which would effectively be the owner once again if Vinder were to be evicted.
