T
he collapse of Vision & Beyond, a real estate investment firm based in Herzliya, has sent shockwaves through the US real estate market. The company, which primarily invested in multi-family properties in the US, is believed to have raised between $50-100 million and had $500 million in assets under management at its peak. However, new evidence suggests that Vision & Beyond's controlling owners, Stas Grinberg and Peter Gizunterman, may have engaged in questionable practices, including mismanaging client funds from Israel for overseas investments.

    According to investors who purchased apartments through the company, they were left with no ownership of their properties after the bank foreclosed on them. One buyer claimed that Vision & Beyond had acted as an intermediary in the transaction and had not informed them when their properties were foreclosed upon. The former apartment owners have formed a company to investigate how their ownership was allegedly transferred without their consent.

    New evidence also suggests that Vision & Beyond's controlling owners may have misused funds and properties, including selling a property worth $8 million without investors' knowledge and pocketing the proceeds. Additionally, it is alleged that Grinberg and Gizunterman transferred ownership of certain properties in Ohio from the investors to their personal names, allowing them to secure a personal mortgage of $18 million.

    The company's collapse has been attributed to rising interest rates in the US, inflation, and stricter financial institutions' policies toward creditors. However, Calcalist obtained evidence suggesting that Vision & Beyond's troubles began earlier, when it acquired smaller projects in Cincinnati, Ohio. The controlling owners have appointed a law firm to assess the remaining assets still under the company's control, but no response has been received from Grinberg and Gizunterman regarding allegations of mismanagement and misuse of funds.