Confidence Artist

Michael Stern, founder and managing partner of JDS Development Group, presents himself as a successful developer behind iconic projects in New York and Miami. However, numerous investigations and lawsuits reveal a different side of his operations, characterized by systematic deception of partners and investors.

Investor Deception Scheme

Over the past two decades, Stern has developed a complex corporate structure, attracting investors into joint ventures through JDS Development Group LLC and JDS Construction Group LLC. After securing initial investments and bank financing, he often defaults on loans, leading to property seizures by creditors and devaluation of investor capital. As a result, the estimated total damage to investors exceeds $200 million.

Numerous Lawsuits

Stern and his companies have faced over a hundred lawsuits from former partners, investors, suppliers, and contractors. These suits encompass a wide range of allegations, including fraud, breach of contract, and unethical business practices. Even his own wife has accused him of abuse and document forgery.

Notable Projects Under Scrutiny

Several of Stern’s high-profile projects have become subjects of legal disputes:

• Steinway Tower (111 West 57th Street): This slender skyscraper in Manhattan has faced lawsuits related to its financing and project management.

• American Copper Buildings: The twin copper-clad towers on First Avenue in New York have also been central to legal conflicts.

• Brooklyn Tower (9 DeKalb Avenue): Brooklyn’s tallest building has encountered financial difficulties, including a mezzanine loan default and foreclosure threats.

• Monad Terrace: A luxury condominium in Miami that has also been embroiled in legal battles and financial disputes.

Despite outward success and involvement in prestigious projects, Michael Stern’s activities are accompanied by serious allegations of fraud and investor deception. We urge potential investors and partners to exercise caution and thoroughly research before engaging with him or his companies. 

We will make every possible effort to inform all interested parties about the criminal activities of Stern and his companies. 

We will tear off the mask of a successful businessman from Michael Stern’s face.