Banking heir and billionaire Alberto Safra has sued his mother and two of his brothers amid a dispute over his late father’s fortune.
Safra’s suit, filed Monday in New York State Supreme Court, accuses his family members of purposely diluting his stake in the holding company for Safra National Bank in an effort to push him out of the family banking empire.
Safra says his mother, Vicky Safra, and brothers, Jacob and David Safra, “engaged in various acts of corporate malfeasance intended to harm Alberto’s valuable interests” in the company. He claims they did so when his father, Joseph Safra, was “severely cognitively impaired” and could not consent to the maneuvers.
Bloomberg reported last year that Safra was planning to sell his stake in the family businesses to his siblings in order to fund his new investment firm.
Safra previously challenged his father’s will in court, claiming he had been written out of the banker’s estimated $15 million fortune. He stepped down from the bank’s board of directors in 2019, after a disagreement with his younger brother.
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