For nearly a year, a pair of international investors have been struggling in Brooklyn courts to recoup $2 million from an escrow account, but have been thwarted at every turn by the legal maneuverings of a team of lawyers that includes Brooklyn Democratic Party power broker Frank Seddio.
That money is well and truly gone, new evidence presented in Brooklyn Supreme Court on Wednesday confirms. The same day it hit Brooklyn attorney Mark David Graubard's escrow account—where it was supposed to remain, accessible only to the investors, according to their contract—$2.5 million was wired back out to an anonymous limited liability company. The escrow account itself has since been closed.
Lawyers for the investors presented a further bombshell in court Wednesday: Before the escrow account was closed out, it made a payment to the law firm of Seddio, the party boss who boasts of his influence over judicial appointments and who has been instrumental in delaying the legal efforts to recoup the money.