US Based Nigerian Businessman, Kolawole Aluko Loses Millions Of Dollars, Now Hides In Expensive Yacht Rented To Jay Z & Beyoncè
American-based Nigerian businessman, Kolawole Aluko, the owner of a penthouse apartment that could be the most expensive foreclosure in New York City is believed to be hiding out on his yacht, which he rented to Jay Z and Beyoncé in 2015 for $900,000 a week.
Aluko was the owner of Apartment 79, a penthouse apartment in One57, one of New York City’s most expensive residential buildings.
However, the apartment will be sold to the highest bidder in a foreclosure auction in July.
Aluko, who is friends with stars such as Jay Z and Jamie Foxx, has not been seen for a while, which has sparked rumors that he is hiding away on his yacht, the New York Post reported.
His bank has also listed the yacht, the Galactica Star, as collateral in the foreclosure, but the yacht is ‘out of range’ at the moment.
It was last registered in the Bahamas in May.
Aluko rented the Galactica Star to Jay Z and Beyoncé in 2015 for $900,000 a week and allegedly showed up at the Ja Rule Fyre Festival in the Bahamas in late April with his yacht, sources told the Post.
The businessman is also close friends with Leonardo DiCaprio.
Aluko made a large donation to DiCaprio’s environmental charity and even attended the actor’s birthday party in New York City in 2013.
The energy tycoon sold a 2.4-acre estate in Montecito, California, to Gwyneth Paltrow for an undermarket $4.9million.
In 2012, he bought an 11,478-square-foot house in Beverly Hills that he rented to Ariana Grande.
He had to leave when he sold the property in 2016 for $13million.
Aluko is also avoiding Nigerian authorities who tried to freeze his assets in February as part of a money-laundering probe, according to the Post.
Apartment 79 was sold to Aluko in December 2014 for $50.9million, making it the eighth most expensive unit in the building, according to New York City property records obtained by Bloomberg.
Less than a year later however, the buyer took out a $35.5million mortgage from Banque Havilland in Luxembourg to help pay for the apartment.
When the owner failed to pay the loan back a year later, the bank took possession of the 6,420-square-foot apartment, according to court documents.
Now the bank is planning to auction off the four-bedroom apartment on July 19 to regain the mortgage plus interest.
Source: New York Post