Developer Peter Fine sued for allegedly withholding $3.5M from partner

Altantic Development Group’s co-founders Marc Altheim and Peter Fine are back in court. Altheim, who sued Fine in 2014 for allegedly diverting funds from the company, filed a new suit to compel his business partner to pony up $3.5 million — the amount an arbitrator awarded to Altheim in May. In his 2014 suit, Altheim claimed that Fine improperly diverted proceeds from the sale of 421a certificates worth tens of thousands of dollars a piece. […]

Source: Real Estate

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