Blog | Excelion Victims Board Updates

Gruzman & Nemirovsky in Moscow

On September 6, 2018, Erech Halvaot Ke-halacha LTD extended a loan of 1 million euro to a foreign company under the ownership of Motti Gruzman. Gruzman served as the guarantor for the company's repayment obligations, which were initially due by June 15, 2020.

In a legal proceeding dated December, 2022, Doctor and his wife (whose names have been removed at their request) have initiated legal proceedings against Motti Gruzman and the companies mentioned in the first lawsuit. The plaintiffs seeked restitution amounting to 6 million shekels for breach of contract related to the…

On August 12, 2017, Doctor (his name has been removed at his request) extended a loan of 700,000 Euros to Pds Portal SLU, a company owned by Motti Gruzman based in Andorra.

In a legal proceeding dated February 15, 2024, a consortium consisting of Orna Yakar, Ofer Berg Ltd, David Berg, Raviv Levi, Amir Peleg, Tal Azgad, Yael Nofer Schwartz, and Shimon Amrani initiated litigation against Motti Gruzman, his spouse Debora, and their associated entities

News1: Spouses who bought apartments in Austria are suing the developer Motti Gruzman E. and his wife sued for NIS 6 million on the grounds that they did not receive the three vacation apartments they purchased and attribute to Gruzman a Ponzi scheme   The dentist and his wife are…

Excelion sold 33 apartments in the project, promising to deliver them by September 2022, but failed to do so because the renovation quality and furniture quality were found to be very poor.

Excelion started sales of apartments at the property for about 1400 €/sq.m, while the market price is about 850 €/sq.m. But the company promised to the buyers the fixed rental payments providing a 7% yield on their investment.

Excelion is trying to sell apartments at the property at a price of about €300,000, while the market valuation of these apartments according to idealista.com is €201,124.