Ilan Kenig, the CEO behind FMB Development, has lost his home in Pacific Palisades to his lender and allegedly owes more than $500,000 in unpaid credit card debt. Kenig signed a deed-in-lieu of foreclosure, handing over the nearly 7,000-square-foot property at 1355 Berea Place to lender VIG Private Lending.
The foreclosure comes as Kenig is suing four former partners, including Rabbi Yoshiyahu Yosef Pinto, once an adviser to high-profile New York real estate players who was convicted on bribery charges in Israel, claiming a multimillion-dollar fraud scheme that left Kenig with nothing but debt bills.
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