A court-appointed examiner said the developers behind a bankrupt Brooklyn hotel engaged in “a complex scheme to divert and siphon substantial amounts of money” from the business, allegations they denied.
Money that came into the 147-room Williamsburg Hotel was transferred through a “labyrinth of banking relationships” between its management company and other entities controlled by the hotel’s developers Toby Moskovits and Michael Lichtenstein, according to an examiner’s report filed in the hotel’s bankruptcy case on Monday.
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