S
haya Prager's financial woes are mounting as he faces lawsuits from lenders and investors. His wife's former lawyer, Mark Nussbaum, has joined the fray by suing Prager and his wife in New Jersey for defaulting on a $9 million loan. The loan was issued just two months ago, with payments due October 1st, but none have been made.

    Nussbaum claims that Prager guaranteed the note, despite not disclosing the purpose of the loan. Cherry Hill Management is seeking repayment of the loan plus interest and legal fees. This lawsuit adds to at least nine others Prager faces in various states.

    Prager's business practices are also under scrutiny, particularly his use of ground leases and separate loans against properties. Some lenders dispute that they were aware of this ownership structure, which has led to accusations of mortgage fraud. A trial is scheduled for July in one such case involving Pinnacle Bank and the Burnett Plaza in Fort Worth.

    Prager's camp denies these claims, stating that all parties involved in the ground lease transaction were disclosed and acknowledged by lenders in writing.