Thursday, November 12, 2009

Bank Transfers Paradice Hunt Club Property to Michigan Dept. of Treasury

The Michigan Department of Treasury is holding property belonging to yet another affiliate of Detroit casino syndicator Michael J. Malik, Sr.

Fifth Third Bank has transferred property belonging to Malik's Paradice Hunt Club, L.L.C., to the Department of Treasury.

Malik through his Paradice Hunt Club owns 1,000 acres of property in Davison, MI and operates a commerical lodge and hunting grounds on that property. In 2008, Malik was found guilty of illegal firearms discharge in Arizona, was fined nearly $15,000 and stripped of his right to hunt in Arizona, Michigan and a majority of other U.S. states for five years.

Previously TVT has reported that Fifth Third Bank had transferred property to the Department of Treasury belonging to another Malik affiliate, Lucky 7 Development, L.L.C.

Lucky 7 owns property on Harsens Island in St. Clair County, Michigan. Malik's most recent development plans for that property include a marina and 348 clustered housing units. However, Malik has failed throughout the last decade to win approvals for various developments proposed for this property. The St. Clair County Department of Equalization reports that Malik is delinquent paying 2008 property taxes levied on this property which was formerly associated with the Detroit Boys Club.

In April, Fifth Third Bank filed notice with the Oakland County Circuit Court noting Malik was in default on a personal $1 million line of credit.

Fifth Third Bank v. Malik: Complaint (including promissory note)

It's not clear how these actions by Fifth Third Bank and involving Malik and his affiliates might be linked, if at all.

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