Stay Safe !
Posted on 06/27/2002 3:53:38 PM PDT by all4one
Al-Qaeda Threat in Philadelphia?
Philadelphia, PA June 27, 2002 — David Henry reports from the Action Newsroom.
An Action News investigation reveals that a chain of jewelry stores operating in the Delaware Valley is being investigated by the FBI for possible connections to the Al Qaeda terror network.
A series of raids were carried out yesterday in Philadelphia and across the state of Pennsylvania.
The stores are mostly kiosks in shopping malls operating under the name "Intrigue Jewelers." They are all owned by Pakistanis under franchise agreements with a company called Gold Concepts, based in Pennsacola, Florida.
Intrigue operates stores at malls in Philadelphia, Plymouth Meeting, Harrisburg, and Monroeville. Until recently, they also had a kiosk at the Lehigh Valley Mall near Allentown. Owners and employees of the Intrigue shops at the Gallery in Center City and at the Plymouth Meeting Mall were questioned yesterday by agents from the FBI and INS. An employee at the shops in the Monroeville Mall tells us he was detained for hours yesterday.
Tariq Hussain says his home was searched and his computer was taken. He says the FBI accused him of funneling money to Ossama bin Laden's terror network. He says they questioned him about a photo he took two years ago of the NASDAQ building in New York, but he doesn't know how they knew about the photo.
The man in the photos taken at the World Trade Center just days before the attacks also worked at the Intrigue Jewelry store at the Lehigh Valley Mall. Two days before the attacks Ashar Iqbal Butt came to a photo shop in the mall looking for the pictures. The clerk says Butt seemed anxious to get them.
He was picked up on September 12th and was later charged with entering the country on a false passport just a month before the attacks.
Action News has confirmed that yesterday's sweep is part of a nationwide investigation involving at least 60 jewelry outlets. The justice department confirms that a number of people have been detained for questioning, but no charges have been filed yet.
No kidding. I live about 5 minutes from the Plymouth Meeting Mall. You?
No,the address listed for both the corporation and Iqbal is 1504 Kirtley Drive, Brandon.
For the now defunct Intrigue Jewelers, Inc. at the Brandon Town Center Mall, his address was listed as 1035 Fountain Lake Dr, Brunswick, Georgia. None of these addresses, IMO, are residences -- just properties either owned or rented by these people.
Speaking of sudden influx of cash, I followed a link that hits rather close to home, and is therefore even more disturbing.
When I queried the Florida Corporations search engine for “Faisal” (one of the defunct companies started by Munawar Iqbal in Texas), I came up with Faisal Enterprises, Inc., the officers of which are listed at the address of an apartment complex that’s in a neighborhood of a close friend in Broward County. It turns out that apartment complex is owned by SAF Investments, whose president is Ali Jaferi. Jaferi is also president of the company that owns a convenience store across the street from the complex: USA Grocers, described in press releases as a “convenience store and retail petroleum company operating over 200 stores across five states, based on Boca Raton, Florida. The company has over 400 employees and annual revenues in excess of $500 million.”
A search on Ali Jaferi turned up a 1997 brief filed by a Tallahassee law firm in defense of Alexander Grief, a Florida attorney then facing disbarment for participation in an illegal immigration scam (falsification of documents) in 1990. Testifying in Grief’s behalf was none other than Ali Jaferi, Mr. Grief’s employer, described as “Mr. Grief's present employer and a past client.”
To quote from the brief: “A true description of Mr. Grief's character was set forth by Mr. Jaferi when he described the circumstances under which he met Mr. Grief in 1988. Mr. Jaferi, who moved to America in 1985 and became a citizen in 1992, bought a filling station and met Mr. Grief in his capacity as a lawyer for the seller. The seller made a misrepresentation as to the circumstances of the sale and Mr. Jaferi asked Mr. Grief to correct the problem. As Mr. Jaferi testified: “I went to Alex after that. I said, this is all my life's savings and I need your help. You know, he really helped me on that and straightened out the problem with them. I liked him a lot, after that time, as a really fair man, I mean, you know, that he was on the other side, and he helped me, and from that day, he was my attorney for my closings and all around.Mr. Jaferi also testified about Mr. Grief's very fair fees and about how much Mr. Grief has helped Mr. Jaferi's friends, relatives and employees with various problems.” Mr. Grief has continued to work for Mr. Jaferi even after his conviction and his suspension. Mr. Grief has access to all of Mr. Jaferi's business records and to everything that Mr. Jaferi owns.
Another document turned up on the search of Jaferi is a poorly written broken-English proposal for a term paper, dated September 20, 2000, on the subject of “New company having a problem running a business.” The company is USA Grocers, and the writer, who describes himself as an employee, says it was “established in 1998. They had two gas stations at that time and now have over 200 gas stations all over America.” And “This (USA Grocers)is a multi-million company and they don’t have any human resource department…Most of the regional managers, supervisor, and quality control staff don’t know what their roles are.”
According to the writer, USA Grocers sounds like they’re in bad shape in 2000, and yet we have a February 27, 2001 press release announcing that “PETROLEUM REALTY INVESTMENT PARTNERS FINANCES $35 MILLION ACQUISITION BY USA GROCERS:”
MIAMI, FL - February 27, 2001 Petroleum Realty Investment Partners, L.P. has announced the closing of a combined $35.1 million sale leaseback and debt transaction with USA Grocers of Boca Raton, Florida. Of the 33 stores, all are located in the Atlanta area under the Exxon brand except one located in Boca Raton, FL branded Mobil.
"We are extremely happy with this newest addition to our portfolio of retail sites in North Georgia. This brings us to over 85 sites in that market. By assisting with this latest transaction, Petroleum Realty has once again been much more than just a source of capital, they are a true growth partner. Petroleum Realty Investment Partners continues to be our "financier of choice" for all future deals," said Ali Jaferi, President and CEO of USA Grocers.
"This acquisition has allowed USA Grocers to achieve important critical mass in the Atlanta market. Since our first transaction with USAG was consummated less than a year ago, we have delivered nearly $90 million in growth capital in both Florida and Georgia," said Mark Radosevich, Regional Manager of Petroleum Realty Investment Partners.
"Petroleum Realty's funding of our third major USAG transaction is reflective of our continued and unwavering commitment to delivering capital to the convenience stores and petroleum retailers. We believe strongly in the long-term success of this segment of retailing. This transaction takes us over $100 million in closed sales leasebacks plus nearly $150 million in loan closings," said Stephen H. Bittel, president of Petroleum Realty Investment Partners.
----SNIP----
90 million in growth capital to a company that owned two gas stations in 1998, and which an employee describes as “having a problem running their business” in 2000? (OTOH, I guess you don’t need a Human Resources Department if you employees are illegals.)
On a more personal note, the apartment complex at which the principals of Faisal Enterprises reside, has, according to my relative, been deteriorating since it was bought by Jaferi’s company a few years ago, with a noticeable influx of Muslims, sheets covering windows, trucks going in and out throughout the day, and poor maintenance of the grounds. The convenience store has long been a source of angst in the neighborhood, my source says, since it attracts dope pushers, and is consistently making the local police blotter for selling beer and cigarettes to minors and assorted other piccadillos.
I tried to cheer her up with the thought that if these tenants were jihadists, they probably wouldn’t blow up their own building. Small comfort.
Stay Safe !
PETROLEUM REALTY INVESTMENT PARTNERS FUNDS $24.25 MILLION FOR THE PANTRY'S ACQUISITION OF 23 LOUISIANA AND MISSISSIPPI CONVENIENCE STORE/GAS STATIONS.
MIAMI, FL - January 1, 2001 Petroleum Realty Investment Partners (PRIP) announced the closing of it's acquisition of the real estate underlying The Pantry, Inc.'s (NASDAQ: PTRY) most recent purchase. The twenty three Fast Lane Stores acquired are located in Louisiana and Mississippi and were acquired from R.R. Morrison and Son, Inc.
Peter J. Sodini, President and C.E.O. of The Pantry commented, "We are particularly pleased to have completed this transaction as it represents our entrance into the state of Louisiana, an important new retail market for our business. This was also our first deal with Petroleum Realty, with whom we look forward to increasing the depth of our relationship."
David Glimcher, Petroleum Realty Chairman noted that, "The Pantry executive team represented top of the industry talent and commitment. We eagerly look forward to doing future business with The Pantry." Glimcher also praised the performance of Al Perotta, Petroleum Realty's regional acquisition manager responsible for the deal.
Stephen H. Bittel, Petroleum Realty President commented, "They don't get much better than The Pantry. They currently operate nearly 1,400 stores and are the second largest independent operator in the United States. The sites include some exceptional real estate locations, and with The Pantry's strong management, should provide continued great performance."
Petroleum Realty, now in its second year of operations, has closed nearly $250 million in sale-leaseback acquisitions and debt originations. Petroleum Realty has a joint venture with Lehman Brothers (NYSE: LEH) to acquire convenience store and gas station related real estate. Debt transactions are funded through Lehman Brothers. The company expects total closings to approach one half billion dollars by year end.
Petroleum Realty's main offices are located in Columbus, Ohio and Miami, Florida with additional regional offices in major markets across the country. For more information, contact David J. Glimcher in PRIP's Columbus, Ohio office at 614/224-4777 or Stephen H. Bittel in the Miami office at 305/536-1300; or visit the Petroleum Realty website at:
http://www.petroleumrealty.com.
GULF OIL DESIGNATES PETROLEUM REALTY INVESTMENT PARTNERS AS PREFERRED LENDER
MIAMI, FL - January 9, 2001 Gulf Oil has designated Petroleum Realty Investment Partners as a preferred supplier of financial products and services to its branded marketers throughout the United States. The companies have jointly created the Gulf-branded "GroGulf Financing Plan" slated to formally roll out next month.
Designed with special emphasis in the area of sale/leaseback financing, the GroGulf Financing Plan also offers a full array of acquisition and business development funding options, including mortgage debt and construction take-out loans.
Mark Radosevich, regional acquisition manager for Petroleum Realty, said "This exciting new program has been designed to deliver numerous benefits that go way beyond what Gulf Marketers have typically come to expect from a lender. In so doing, we have committed ourselves to taking a long-term view toward our relationship with this important customer by having significant capital available when needed and also delivering other business support services to help Gulf and their marketers profitably build their respective businesses into the future.
Petroleum Realty Investment Partners is a joint venture with Lehman Brothers that focuses solely on the retail petroleum industry. The company is staffed by seasoned petroleum industry veterans as well as experienced real estate and financial professionals. For further details they can be reached at their offices in Miami, Florida at 305-536-1300 or Columbus, Ohio at 614-224-4777.
Gulf Oil Company, based in Chelsea, Mass. is a marketer of transportation fuels and lubricants. For more information on Gulf Oil visit www.gulfoil.com.
Petroleum Realty Investment Partners Closes $19.2 Million Sale - Leaseback and Debt Financing Transaction with USA Grocers, Inc.
Miami, Fla., May 31, 2000 - Petroleum Realty Investment Partners, L.P. (PRIP) today announced it has closed a sale - leaseback and debt financing transaction with USA Grocers, Inc. for seven gas stations/convenience stores in the Boca Raton, Florida area. Under the terms of the agreement, PRIP is providing $19.2 million in funding.
The seven facilities are located in the Boca Raton area and feature the Chevron and Exxon/Mobil brands. Boca Raton-based-USA Grocers, which operates 78 gasoline stations and convenience stores in Florida, Georgia and South Carolina, acquired these facilities from NextStore Inc. (formerly Knight Energy). Petroleum Realty funded the acquisition via $14.6 million in sale - leaseback financing and $4.6 million in debt financing. Approximately $1 million will be used to upgrade these facilities, with improvements ranging from full reconfiguration of convenience stores to new signage and general renovations.
"USA Grocers, a respected operator and acquirer of gas stations, is an excellent partner for Petroleum Realty," said Stephen H. Bittel, president of PRIP. "Our expertise in the petroleum industry and ability to close transactions at mutually favorable terms are making Petroleum Realty increasingly attractive to growing owner/operators like USA Grocers. During the last four months, we have completed more than $50 million in transactions and expect to close $250 million in additional activity by the end of this year."
"Petroleum Realty understands the challenges of our business and provided us with a financing package that will help improve these properties and sustain our growth," said Ali M. Jaferi, president and chief executive officer of USA Grocers. "We look forward to working with Petroleum Realty as our lender of choice on additional acquisitions across the Southeast."
"Florida is a prime market for consolidation and Petroleum Realty is now an established leader in this area," said Mark Radosevich, acquisition advisor for PRIP. "We expect that a number of the pending deals will come from Florida."
Petroleum Realty Investment Partners, L.P., founded in 1998, is seeking to become the country's one-stop finance provider of choice to the independent retail gas station and petroleum-related property sector, offering sale - leasebacks, mortgage loan and equipment financing and third-party construction loan services. Petroleum Realty has a joint venture agreement with Lehman Brothers for a $300 million credit facility to purchase gas stations, convenience stores and related entities. Mortgage financing is through Lehman, while equipment financing and construction loans are provided through third parties. The company's goal is to reach $300 million in assets by the end of 2000 and $1 billion in assets by the end of 2001.
Petroleum Realty's main offices are located in Columbus, Ohio; Miami, Florida; and Tysons Corner, Virginia; with additional regional offices in major markets across the country. For more information, contact David J. Glimcher in PRIP's Columbus, Ohio office at 614/224-4777, Stephen H. Bittel in the Miami office at 305/536-1300 or visit the Petroleum Realty website at: http://www.petroleumrealty.com.
PETROLEUM REALTY INVESTMENT PARTNERS FUNDS $34 MILLION ACQUISITION OF NINETY SIX STATIONS BY NATIONAL PETROLEUM
COLUMBUS, OH - November 2, 2000 - Petroleum Realty Investment Partners (PRIP) today announced the closing of $34 million of sale-leaseback and first mortgage funding for National Petroleum's affiliate, Petrol Properties, LLC's, acquisition of ninety six gas stations in Illinois, Indiana, Michigan and Wisconsin from Speedway Super America, LLC.
Petroleum Realty Chairman, David J. Glimcher, complemented National Petroleum for its savvy identification and fast execution of the transaction.
Yogi Bhardwaj, National Petroleum's Chairman, commented on their first transaction with Petroleum Realty as "a positive experience with a professional organization that goes well beyond just providing capital, as they truly deliver the high level structuring and business advice that has added value for us. While so many capital providers to the convenience and gas industry have recently fallen by the wayside, PRIP has been steadfast in its commitment to the convenience and gas industry. We look forward to our next transaction with Petroleum Realty."
Petroleum Realty Investment Partners, L.P., founded in 1998, is a one-stop finance provider of choice to the independent retail gas station and petroleum-related property sector, offering sale-leasebacks, mortgage loan, equipment financing and third-party construction loan services. Petroleum Realty has a joint venture agreement with Lehman Brothers (NYSE: LEH) including a $300 million credit facility to purchase gas stations, convenience stores and related entities. Mortgage financing is through Lehman Brothers, while equipment financing and construction loans are provided through third parties. The company has completed nearly $200 million in transactions over the past year.
Petroleum Realty's main offices are located in Columbus, Ohio; Miami, Florida; and Tysons Corner, Virginia; with additional regional offices in major markets across the country. For more information, contact David J. Glimcher in PRIP's Columbus, Ohio office at 614/224-4777, Stephen H. Bittel in the Miami office at 305/536-1300 or visit the Petroleum Realty website at:
http://www.petroleumrealty.com.
CITGO DESIGNATES PETROLEUM REALTY AS PREFERRED ACQUISITION LENDER
Miami, FL, September 12, 2000: CITGO has designated Petroleum Realty Investment Partners as a preferred supplier of financial products and services to its branded marketers throughout the United States. The companies have jointly created the CITGO branded "Growth Financing Program" slated to formally roll out in October.
Designed with special emphasis in the area of sale/leaseback financing, the CITGO Growth Financing Program will also offer a full array of acquisition and business development funding options, including mortgage debt and interim loans covering the "seasoning period" of a new site until the long term financial performance of the unit has been established, with the loan having conversion options to either sale/leaseback or long term mortgage debt.
"This alliance represents another building block in our financial business-building arsenal of programs for our marketers," said Bill McCollough, CITGO General Manager, Marketing Services. "The individualized consultation and business planning support offered by senior qualified Petroleum Realty management offers our marketers the full gamut of strategies, from growth to exit."
Mark Radosevich, Regional Acquisition Manager for Petroleum Realty said, "This exciting new program has been designed to proactively deliver numerous value added benefits that go far beyond what is the traditional norm of industry lenders today. We are committed to taking a long term view toward the business by having significant capital readily available and delivering meaningful insights to help CITGO and its marketers profitably grow the brand into the future."
Petroleum Realty Investment Partners is a joint venture with Lehman Brothers and focuses solely on the retail petroleum industry. The company is staffed by both seasoned petroleum industry veterans as well as experienced real estate and financial professionals. The company is uniquely suited to offer sale/leaseback acquisition financing, in combination with traditional securitized and interim debt financing solutions. For further details contact any of the Petroleum Realty offices; Miami, FL 305/536-1300, Columbus, OH 614/224-4777 or Tyson's Corner, VA 703/714-8888.
CITGO Petroleum Corporation, based in Tulsa, Okla., is a refiner, transporter and marketer of transportation fuels, lubricants, petrochemicals, refined waxes, asphalt and other industrial products. It is owned by PDV America, Inc., an indirect wholly owned subsidiary of Petróleos de Venezuela, S.A., the national oil company of the Bolivarian Republic of Venezuela. For more information on CITGO visit www.citgo.com.
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