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.