Suffern strange deal

Suffern strange deal

Suishare 10. February 2019

 

We raised a question at last year’s Novartis AGM, and have not yet found a satisfactory answer as to who profited by $12 million from a most peculiar property sale. In a written response, Novartis’s answer was that they had “done their due diligence”. The answer unfortunately came directly at a time when the atmosphere was polluted by the first exhaust fumes of the Novartis payments to Michael Cohen / Donald Trump, where Novartis’ due diligence was shown to be severely wanting.

 

We cannot dig and deeper here, so here the facts.

 

Late in 2017 Novartis sold its campus in Suffern, New York to a Delaware registered shell company called RS Old Mill LLC for $ 18 million. We find nothing on any other deal RS Old Mill LLC has ever done? RS Old Mill LLC was registered as a foreign LLC, and whoever is behind RS Old Mill LLC is unclear.

 

Within 24 hours of the sale, RS Old Mill LLC sold the property to a company called Suffern Partners also a Delaware registered company for $ 30 million. Suffern Partners, on the other hand, though also a Delaware registered company, apparently belongs to Bridgewater Capital Partners, a Manhattan based property developer.

 

When pressed to explain this peculiar transaction at the 2018 AGM, the Chairman Joerg Reinhard deferred to a later written statement mentioned above.

 

This deal seems to raise a lot of unanswered questions such as:

  • Who are the foreign to the USA invisible person/people behind RS Old Mill LLC who “earned” $12 million
  • This is an unexpected way to make a deal by one of the world’s largest companies
  • Who was responsible for / been fired for “loosing” Novartis $12 million?
  • Surely a savvy property developer like Bridgewater Capital Partners would go to the source to buy such a valuable piece of property?

 

And not to forget Michael Cohen’s alleged shady business dealings, were all done through Delaware registered shell LLC’s.

 

In another amazing co-incidence (Remember the ultimate purchaser of the Suffern site was Bridgewater Capital Partners). News broke in May 2018 that because of the Trump-Cohen scandal, the Novartis outgoing CEO Joseph “Joe” Jiminez who was allegedly partly or largely responsible for the Trump-Cohen “consultancy deal” was apparently disinvited to join / had an invitation withdrawn to the seat on the board of one of the world’s leading and largest hedge funds. The name of the hedge fund: Bridgewater Associates.

 

Though there is no relationship between the leading hedge fund Bridgewater Associates and mother company of the end purchaser of the Suffern site Bridgewater Capital Partners, how coincidental is it that probably the only 2 companies in the world, unrelated, but both called “Bridgewater” (and this seems a fairly rare company name) are linked together by the same alleged questionable deal!

 

September 2018: Apparently Suffern Partners has not paid a $309’000 Electric bill for the site and are being sued. They dispute this cost. We have not found an update on this.

 

(https://www.facebook.com/SloatsburgVillage/posts/1557563021015718?comment_id=1557566924348661&comment_tracking=%7B%22tn%22%3A%22R0%22%7D)