Lenders accuse Baltimore developer Brandon Chasen of fraud, seek $40M+

Lenders accuse Baltimore developer Brandon Chasen of fraud, seek $40M+

Key takeaways:

- Lenders seek over $40 million from

Brandon Chasen - Tony Bobulinski’s LLC alleges altered bank and securities statement

- $2 million spent on yachts, complaints say

In a set of fiery legal complaints last week, creditors accused Baltimore developer Brandon Chasen and his business partner of defrauding them and sought to hold the embattled real estate tycoon liable for over $40 million.

In one complaint, a former business associate of Hunter Biden alleges that Chasen showed him forged bank statements in order to land a $13 million loan. In another, a group of creditors say Chasen’s real estate empire, the Chasen Cos., fraudulently diverted millions from investors and lenders to fund the owners’ lavish lifestyles without disclosing massive underlying financial issues. Collectively, those lenders are seeking to keep Chasen on the hook for roughly $40.7 million, plus additional damages and interest.

Those lawsuits landed alongside a series of eight other new complaints brought by the trustee in Chasen Construction‘s separate Chapter 11 bankruptcy case over $2 million the firm spent on yachts. Truste...