On January 25, a federal judge in Chicago declared Boca Raton developer Atul Bisara a fugitive after Bisaria failed to appear for his arraignment on fraud charges. In October, federal prosecutors filed an indictment against Bisaria and his contractor, Steve Lewis, alleging that both men engaged in a scheme to defraud two Chicago area banks and obtain money and property by means of materially false and fraudulent pretenses, representations, promises and material omissions. Specifically, the indictment alleged that Bisara and Lewis created false invoices for $1.9 million in steel to be used in the renovation of a Boca Raton hotel. Bisaria’s companies received loans from Broadway Bank and Mutual Bank to fund the project. However, the steel was never delivered and no work had been completed. The indictment further alleged that Bisaria used the proceeds of the loans for personal expenses and failed real estate ventures.
WSH Member Michael S. Popok represents United Central Bank, the successor to Mutual Bank, in a separate foreclosure proceeding. With the assistance of Partner John J. Quick and Associate Eric P. Hockman, Michael reviewed dozens of the invoices that Bisara and Lewis submitted to Mutual Bank to justify their expenses. In an interview with the South Florida Business Journal, Michael reported that that they could find no evidence that the renovation had taken place; he also stated that he forwarded his findings to the Federal Deposit Insurance Corporation (“FDIC”) for future use by the U.S. Attorney’s Office.
A former Chair of WSH’s Litigation Division, Michael has extensive experience in business complex litigation, including the successful representation of numerous companies in multimillion dollars suits. Specifically, he has represented United Central Bank in a series of multimillion dollar foreclosure cases involving hotels around the country. Michael also has extensive experience in construction litigation and government/municipal litigation. A member of our Appellate Practice Group, Michael’s successful advocacy on behalf of his clients has also resulted in a number of reported appellate decisions in both Federal and State courts.
Author(s): Brooke P. Dolara
