Billionaire Charles Cohen Faces Asset Seizure Over Loan Defaults
Billionaire Charles Cohen is at risk of losing his luxury properties, fine wine collection, and superyachts after defaulting on a $535 million loan. The investment firm Fortress Investment Group has taken legal action to seize the assets, citing unpaid debts and breached personal guarantees from Charles Cohen Loan Default Triggers Asset Seizure
According to court filings and reports from the Wall Street Journal Charles, Cohen had used assets including a Manhattan office tower and the Le Méridien Dania Beach hotel as collateral. But after his business defaulted, Fortress claimed the value of these properties was not enough to cover the outstanding debt.
Fortress Seeks Cohen’s Ferraris, Mansions, and $50M Yacht
With Cohen personally guaranteeing $187.2 million of the loan, Fortress is now targeting his personal wealth. The firm is actively pursuing the seizure of:
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Mega-mansions in France and Connecticut
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25 luxury cars, including two Ferraris
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A 220-foot yacht worth nearly $50 million, which has been blocked from leaving Italy
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Artworks, décor, and fine wines from Cohen’s French château
Fortress claims it has already confiscated assets from the Château de Chausse, Cohen’s 138-acre estate in Provence.
Charles Cohen Accused of Transferring Assets
Charles Cohen Loan Default Triggers Asset Seizure fortress alleges that Cohen transferred ownership of assets—including his yacht—to family members to avoid seizure. In court, Cohen argued these were estate planning moves. A French court supported him in the case of his Provence estate.
Still, Fortress subpoenaed Cohen’s family and froze access to his personal accounts, claiming the billionaire is obstructing enforcement. The firm maintains it is obligated to protect its investors and recover funds from the failed deal.
Cohen’s Business History with Fortress Investment Group
Fortress had previously backed many of Cohen’s real estate ventures. However, his commercial property empire was hit hard during the pandemic. While other investors surrendered properties, Cohen held firm and restructured his loans with Fortress.
By 2022, Cohen signed personal guarantees, but the commercial real estate market continued to struggle. The loan was modified four times, but his company defaulted in March 2024. Cohen claimed there was a handshake agreement for another extension, but the court ruled against him.
Cohen Rushes to Sell Assets Amid Legal Battle
Now, Cohen is racing to liquidate properties to satisfy the debt. He has filed a countersuit, accusing Fortress of harassment. His attorneys argue the firm’s actions, including freezing family accounts, are unjustified.
Fortress insists it’s left with no choice and will continue enforcing the judgment. As the legal war escalates, Cohen’s luxurious empire—including wine, mansions, and Ferraris—hangs in the balance.