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Financially-strapped real estate developer Mohamed Hadid — the celebrity dad of supermodels Gigi and Bella Hadid — claimed he’s the “victim” of a predatory lender after filing for bankruptcy over a prized California property, The Post has learned.

Hadid, who made cameo appearances on “The Real Housewives of Beverly Hills” when it featured his ex-wife Yolanda Hadid, has been locked in a nasty legal battle with real estate mogul Zach Vella — a fellow reality TV alum of Bravos Million Dollar Listing.”

Their knock-down, drag-out dispute stems from a $31 million loan Vella’s company Skylark Capital gave Hadid’s Tree Lane LLC in 2018 to develop a four-acre lot in an exclusive Beverly Hills enclave that counts Hollywood stars Ashton Kutcher and his wife, Mila Kunis, as residents.

Last month, the 74-year-old Hadid — a Palestinian born in the Israeli city of Nazareth and an outspoken critic of the Jewish state — pushed the property into bankruptcy. It’s the fifth such filing in less than five years in Los Angeles to prevent a land grab by Vella, he told The Post in an exclusive interview.

I believe I was a victim and now I have to fight my fight, Hadid said.

They gave us enough money to hang ourselves and then they stopped funding.

Vella, Skylark and its attorney Matthew Lewis did not return repeated calls and emails for comment. 

Vella, who has developed properties in New York City, Miami and Los Angeles, is far from media shy. His 2015 wedding to jewelry designer Michelle Campbell took place at Ashford Castle in Ireland was featured in Wedding Style magazine.

In 2022, he sued Hadid over the pricey plot in Bella Vista Estates at 2451 Summitridge Drive, located next to gated homes that boast expansive living space, gourmet kitchens, and lavish amenities such as custom movie theatres, game rooms, wine cellars, according to real estate firm  RubyHome.

A rendering for the 30,000-square-foot property supplied by Hadid to The Post shows he planned to build a four-level mansion with floor-to-ceiling windows, featuring infinity pools that overlook a private tennis court. The plans also include a spa, home theater and an eight-car garage with a car lift.

However, it remains undeveloped six years after Skylark signed the loan agreement as Hadid suffered several financial setbacks — including a $100 million debacle over a Bel-Air mansion, nicknamed Starship Enterprise, that a judge ordered him to tear down in 2019 before it was completed.

Vella’s lawsuit has accused Hadid of “outright theft” and of being a “fraud.”

It was and is very important to Hadid that he present himself as a wealthy and successful real estate developer and to appear in the public eye as such, Skylark alleged in the lawsuit.

Hadid regularly patronizes well known Beverly Hills restaurants, sitting in a place easily publicly observable and photographable, and surrounds himself with young women whose ages approximate those of his daughters, the complaint said.

Hadid sought bankruptcy protection on April 26 the same day a court hearing was scheduled to appoint an independent receiver for the Summitridge property. 

In a legal filing ahead of a May 29 court hearing, Hadid asked the judge to approve an emergency loan for $7.7 million from a new lender — 364 Capital LLC — who will finance emergency repairs to the property as he vets other lenders to help him finish the project.

Once the property is fully developed it will be worth up to $85 million and the sale will make everyone whole, Hadid claimed in the filing.

The judge has yet to rule on Hadid’s request.

Hadid and Vella’s complicated history began with a meeting initiated by Vella in 2018, Hadid told The Post, at a time when he was desperate for funding to start work on an even more expensive Beverly Hills development at nearby 9650 Cedarbrook Drive.

The two discussed a deal while walking around the 37-acre site, which was later listed at $250 million but was knocked down to just $68 million last September.

According to renderings, the Cedarbrook compound would include a 78,000 square-foot main house with 19 bedrooms, a 36-person home theater, a Turkish bath, a wine cellar with a tasting room, a hot yoga room, staff quarters and a car collectors garage, along with a guest house.

We met across from the Beverly Hills hotel and [Vella] said, lets go to the property Hadid told The Post. 

Vella said I have a lot of money that I want to invest and I said thats music to my ears.’

Shortly after the fateful tour, Vella formed Skylark and drew up two loan commitments, according to court records. Skylark agreed to $92.7 million loan for Cedarbrook for Hadid-owned Treetop Development and $31 million for Summitridge to Tree Lane, according to Hadid and court records. 

But their relationship soon soured. Hadid alleges that Vella approached Kutcher and Kunis with a secret deal to develop the Summitridge parcel shortly after the loan closed.

Vella bought land below and adjacent to Hadids property to build a separate home and then transferred one acre of Summitridges land to his own property, Hadid claimed in court filings.

Hadid said Vella led him to believe that the one-acre parcel would be part of a subdivision that the two would develop together, increasing the value of the entire project, according to court documents.

Instead, Vella reached out to two neighbors who had certain easement rights and offered to partner with the neighbors to take over and develop” the property, Hadid alleged in the complaint a couple of years ago.

Those neighbors were Kutcher and Kunis, more recent court filings reveal.

The Post reached out to the couple for comment, but a representative did not return a call and email.

A distressed asset expert said Vellas alleged move could raise eyebrows in court.

A judge might see that as strange, Adam Stein-Sapir told The Post

 Its not typical lender behavior and it could sound like a lender with ulterior motives.

Hadid said he has only received $21.4 million of the $31 million loan, according to court filings. Of that amount, more than $13 million went toward fees and paying off Hadids debts, court records show.

He claimed in court filings that Skylarks goal all along was to force him into foreclosure in a loan-to-own scheme by not disbursing funds to Tree Lane in a timely manner.  

I was too anxious to get these projects going [and] didnt really ask where he was getting money from, Hadid told The Post. 

He was trying to take advantage of my demise, Hadid said of Vella.

The Cedarbrook property has also languished with excavations made for the foundations. Vella sued Hadid for defaulting on the loan on Cedarbrook in 2021, leading Hadid to file for bankruptcy protection on that property in 2022.

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The two settled that legal dispute on April 4 to expedite a sale of Cedarbrook, but the bankruptcy case is still pending.

Hadid pushed another property into bankruptcy in 2019 after the Bel-Air disaster.

The monstrous mansionat 901 Strada Vecchia Road was deemed a clear and present danger to the homes below it because Hadid violated building codes.

He pleaded no contest and was sentenced to three years probation.

His other bankruptcy filings were in 2021 over projects near Santa Monica, Calif.

The five bankruptcies in such a short span of time is hard to reconcile, no matter the circumstances, experts said.

One o the jobs of a developer is picking lenders and contractors, Stein-Sapir said. In this situation, Vella didnt turn out to be a good lender for him and whether Vella screwed him or not, Hadid did sign on the dotted line.

Hadid made headlines in April for a homophobic rant aimed at Rep. Ritchie Torres (D-Bronx) over his support of Israel. 

You worse than the rats of New York sewage system. They have bigger brains than you. You might get a job as bouncer at gay bar, Hadid wrote.

He later apologized. 

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World

Biden allows Kyiv to begin firing US rockets deep into Russia – as Starmer calls on allies to ‘double down’ on support

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Biden allows Kyiv to begin firing US rockets deep into Russia - as Starmer calls on allies to 'double down' on support

Joe Biden has authorised Ukraine to begin firing US-supplied rockets deep into Russia – as Sir Keir Starmer prepares to push for “further support” for Kyiv at the G20 summit.

Mr Biden’s policy shift means Kyiv will now be able to use Army Tactical Missile Systems (ATACMS) for long-range attacks, two American officials have told Sky News’ US partner network NBC News.

Ukraine plans to conduct its first such attacks in the coming days, the sources said, without revealing details due to operational security concerns.

The US has eased restrictions on the use of ATACMS, which have a range of up to 190 miles, after Russia began deploying North Korean ground troops to supplement its own forces in the conflict.

The development was condemned by Biden officials as a possible expansion of the war.

President Joe Biden meets with Ukrainian President Volodymyr Zelenskyy in the Oval Office in September last year. Pic: AP
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Joe Biden meets with Volodymyr Zelenskyy in the Oval Office in September last year. Pic: AP

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The son of president-elect Donald Trump has criticised the move to allow Ukraine to fire deep into Russia.

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Donald Trump Jr wrote on the X social media platform: “The Military Industrial Complex seems to want to make sure they get World War 3 going before my father has a chance to create peace and save lives… Imbeciles!”

The outgoing Biden administration’s move comes as there are concerns about the level of support the Trump White House may be willing to give Ukraine.

Mr Trump has previously vowed to limit US support for Ukraine and end its war with Russia.

In an evening address after Kyiv was given permission to fire deep into Russia, Ukrainian President Volodymyr Zelenskyy said: “Today, there’s a lot of talk in the media about us receiving permission for respective actions. But strikes are not carried out with words. Such things are not announced. Missiles will speak for themselves. They certainly will.”

Back in September, Russian President Vladimir Putin said if the US were to lift the ban on long-range missile use it would be seen as NATO’s “direct participation” in the war.

He added: “This, of course, will significantly change the very essence, the very nature of the conflict.”

The US military tests an early version of an Army Tactical Missile System in 2021. Pic: AP
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The US military tests an early version of an Army Tactical Missile System in 2021. Pic: AP

Meanwhile, the UK prime minister has said he has “no plans” to speak with the Russian president as world leaders gather for the G20 summit in Rio de Janeiro.

Mr Putin will not be attending the two-day summit which starts on Monday after saying in October that his presence would “disrupt the normal work of this forum”. Russia’s foreign minister Sergei Lavrov will be attending instead.

It will take place days after German Chancellor Olaf Scholz spoke to Mr Putin on what was the Russian leader’s first publicly announced conversation with the sitting head of a major Western power in nearly two years.

Asked if he had any plans to make a similar call, Sir Keir said: “It’s a matter for Chancellor Scholz who he speaks to. I have no plans to speak to Putin.”

Read more:
Why Biden’s move will trigger fury from Moscow
The city where schools go underground to flee Russian missiles
Xi tells Biden that China is ‘ready to work’ with Trump

Firefighters work at the site of a residential area hit by a Russian missile strike in the Lviv region of Ukraine. Pic: Reuters
Image:
Firefighters work at the site of a residential area hit by a Russian missile strike in the Lviv region of Ukraine. Pic: Reuters

Speaking to reporters while on his way to the summit, he added: “We are coming up to the 1,000th day of this conflict on Tuesday.

“That’s 1,000 days of Russian aggression, 1,000 days of huge impact and sacrifice in relation to the Ukrainian people and recently we’ve seen the addition of North Korean troops working with Russians which does have serious implications.

“I think on one hand it shows the desperation of Russia, but it’s got serious implications for European security […] and for Indo-Pacific security and that’s why I think we need to double down on shoring up our support for Ukraine and that’s top of my agenda for the G20.

“There’s got to be full support as long as it takes and that certainly is top of my agenda, shoring up that further support for Ukraine.”

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One of Russia’s ‘largest air attacks’

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The latest developments come after Russia launched a large-scale attack on Ukraine on Sunday, with Mr Zelenskyy claiming Moscow had launched a total of 120 missiles and 90 drones.

The sweeping attack, which left at least eight people dead, targeted energy infrastructure across Ukraine overnight and prompted emergency power cuts.

Hours later, Moscow mayor Sergei Sobyanin said Russia’s air defence units had destroyed a drone heading towards the city.

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Politics

Crypto.com to offer equities trading to Australians after acquiring Fintek

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Crypto.com to offer equities trading to Australians after acquiring Fintek

After acquiring Fintek Securities, Crypto.com can use the firm’s Australian Financial Services Licence to offer equities, derivatives, and forex trading to users in the country. 

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Environment

Saldivar’s Trucking: first owner-operator to deploy Volvo VNR Electric semi

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Saldivar's Trucking: first owner-operator to deploy Volvo VNR Electric semi

Owner-operators are a huge part of the heavy truck market, and they’ve been among the most hesitant groups to transition from diesel to electric semi trucks. That may be changing, however, as Saldivar’s Trucking becomes first independent owner-operator in the US to deploy a Volvo VNR Electric Class 8 truck.

The higher up-front cost of electric semi trucks has been a huge obstacle for smaller fleets. That’s there are incentives from governments, utilities, and even non-profits to help overcome that initial obstacle. And the smart dealers are the ones who are putting in the hours to learn about those incentives, educate their customers, and ultimately sell more vehicles.

TEC Equipment is a smart dealer, and they worked closely with South Coast Air Quality Management District to secure the CARB funding and ensure Saldivar’s was able to ssecure $410,000 in funding from CARB’s On-Road Heavy-Duty Voucher Incentive Program (HVIP), which provides funding to replace older, heavy-duty trucks with zero-emission vehicles. The program is directed exclusively to small fleets with 10 vehicles or less that operate in California and aims to bridge the gap between the regulatory push for clean transportation and the financial realities faced by small business owners.

“TEC Equipment has been instrumental in supporting owner-operators like Saldivar’s Trucking through the transition to battery-electric vehicles,” explains Peter Voorhoeve, president of Volvo Trucks North America. “Their dedication to providing comprehensive support and securing necessary funding demonstrates how crucial dealer partners are in turning the vision of owning a battery-electric vehicle into a reality for fleets of all sizes.”

Saldivar’s Volvo VNR Electric features a six-battery configuration, with 565 kWh of storage capacity and a 250 kW charging capability. The zero-tailpipe emission truck can charge to 80% in 90 minutes to provide a range of up to 275 miles.

Those specs mean the Volvo electric semi is more than capable of meeting Saldivar’s operational needs, which include night shifts at California ports covering 175-200 miles per night, five nights a week. And, as he adds his VNR Electric miles to Volvo’s ever-growing tally, other owner-operators will see that it works for them, too.

“While large fleets often make headlines for their ambitious investments in battery-electric vehicles, nearly half of the 3.5 million professional truck drivers in the U.S. are owner-operators running their businesses with just one truck,” adds Voorhoeve. “These small operations face unique challenges, from the initial capital investment to securing adequate charging infrastructure … this collaboration is a perfect example of the important role to be played by truck dealers and why stakeholders need to work together to succeed in this new era of sustainable transportation.” We need solutions that work for different fleets of all sizes in the marketplace,” added Voorhoeve.”

Electrek’s Take

Saldivar’s Trucking poses with $410,000 incentive check; via Volvo Trucks.

Electrifying America’s commercial trucking fleet can’t happen soon enough – for the health of the people who live and work near these vehicles, the health of the planet they drive on, and (thanks to their substantially lower operating costs) the health of the businesses that deploy them. TEC is doing a great job advancing the cause, and acting as true expert partners for their customers.

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