Wilf family ordered to pay $84.5M in N.J. fraud case

Zygi and Mark Wilf, owners of the Minnesota Vikings, have found themselves in the middle of a real estate fraud case along with their cousin Leonard Wilf. A judge in New Jersey ordered the Wilfs to pay $84.5M to two former business partners after it was ruled that the Wilfs defrauded them in a real estate deal from the 1980's. Their former partners are brother and sister Ada Reichmann and Josef Halpern and they'd been involved with the construction of a 746 unit apartment building in Montville, New Jersey, along with the Wilfs. Though Halpern was paid a salary as an on-site manager once the building was constructed, but they were otherwise cut out of the revenues made.

The Wilf family attorney says that they will fight the decision, calling it unfair. The ruling requires Zygi Wilf to pay 60% of the total award and the other two will pay 20% each. $33M of the full price will be for compensatory and punitive damages, but the price is far below what the brother and sister's lawyer originally asked for.

No matter the outcome of the appeals that are stated to take place, the new Vikings stadium will be constructed as planned, the vice president saying that The Vikings and the Wilf family would have no trouble meeting their private commitments.

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POSTED December 11 2013 2:33 PM

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