In December 2018, the government of Togo signed a property development contract for its embassy to the United Nations in New York with a company called 40-th Development LLC, which was owned by three people. They were Ron Yeffet, Isaac Yeffet, and Adam Gordon.
Under the contract, the Togolese government would initially transfer ownership of the property to 40-th Development. The latter would demolish the existing building housing Togo's permanent mission to the UN and build two new towers there. One of them would serve as Togo's new embassy to the UN, while the other would be sold for residential purposes.
Contract between Togo and 40-th Dev
After signing the contract, the Togolese government transferred ownership to the company and temporarily moved its mission to another location, until the construction of the new headquarters by 40-th Development LLC was completed, which according to the agreement was to be built in 18-24 months.
But according to the Togolese government, it all turned out to be a scam. 40-th Development LLC, after demolishing the existing building, mortgaged the property to the bank to obtain a loan and never built the two new buildings.
The story continued for some time, until in November 2024 the Togolese government sued Ron Yeffet, Isaac Yeffet, and Adam Gordon in a New York court, seeking compensation for damages and the return of the property.
The scheme was started by Ron Yeffet
The latest public court documents date back to June of last year. On June 8, Ron Yeffet, Isaac Yeffet, and Adam Gordon responded to the lawsuit with their rebuttals, arguing that construction of the towers was delayed by the Covid-19 pandemic and other obstacles beyond their control.
From that moment on, it is no longer known how the trial for the Togolese embassy at the UN went. But fortunately for the Albanians, the Albanian embassy in New York was saved. Before the Togolese goal, Edi Rama agreed to give Yeffe the Albanian embassy in the US for the towers. The plan failed after being opposed by the Foreign Minister of the time, Ditmir Bushati, who refused to sign.
Meanwhile, another trial, also for fraud against Ron Yeffe, reveals a very interesting detail.
Goal Kasowitz of Veliaj
Mark Faist, a retired American who worked in the energy trading field, filed a grand larceny lawsuit against Ron Yeffet in a Miami court early last month.
According to the lawsuit, Ron Yeffet took $8.6 million from Mark Faist by deceiving him that they would invest in real estate and make a lot of money. But after several years, Yeffet not only did not give Faist any profit, but he did not even return the $8.6 million invested.
"The story behind this lawsuit is one of calculated betrayal," Faist writes in his lawsuit.
Yeffet used his acquaintance with Albanian Prime Minister Edi Rama to deceive Faist. In the lawsuit, the latter writes that Yeffet took him on several trips to Albania, where to show him that he was an important person, he would take him around in an armed convoy.
After Faist realized the fraud and sued him in court, Yeffet accepted the debt and attempted to resolve the matter by agreement before the court. In September of last year, Yeffet and Faist reached an agreement where the Israeli, naturalized as an Albanian, agreed to repay the debt by February 26 of this year.
But out of the $8.6 million Yeffet transferred to Faist's account only $1 million. Consequently, the pensioner went to court again in early March. Mr. Yeffet asked for a 30-day extension to respond to the lawsuit. But Faist's lawyers asked the court to act quickly by revealing another act of the prime minister's friend.
In the trial with the Togolese embassy, he deceived the renowned Kasowitz law firm by not paying its defense money.
"Plaintiff does not accept a further extension in light of Defendant's deteriorating financial condition and concerns regarding Yeffet's ability to repay the outstanding debt. Plaintiff's concerns stem from recent filings in The Republic of Togo v. 40th Dev. LLC, which reveal that law firm Kasowitz LLP sought to withdraw as Yeffet's attorney for failure to pay their legal fees during the same time period of the agreement. In other words, Yeffet failed to pay its attorneys during the same time window when it was obligated to pay Plaintiff over $7.6 million," reads a document that Faist's lawyers filed with the Miami court just 4 days ago.
Kasowitz's goal
Kasowitz is one of the most well-known law firms. It is the company hired by Erion Velian to lobby the US government for the imprisonment of the mayor of Tirana by SPAK and GJKKO.
Debtors in Line
But Mark Faist, the Togolese government and Kasowitz are not the only ones desperately waiting to get their money from Ron Yeffet. Faist's lawsuit reveals that the line of creditors is long and varied.
"There are other creditors seeking to collect amounts owed by Yeffet. See Naval Logistic, Inc. v. A 50' Nortech Vessel, Hull Identification Number AOV50021E898, No. 25- cv-23774, 2026 LX 86046, at *1 (S.D. Fla. Aug. 21, 2025). Essentially, any delay in resolving this dispute increases the risk that there will be nothing left to collect by the time a final judgment is rendered," Faist's rebuttal states, which has been driven by necessity to dig deep into Yeffet's financial condition and exploits.
Ron Yeffet is known as a close friend of Edi Rama. He is the man who has obtained the monopoly of the means of the army, police, fire brigade and all similar structures of the Albanian state. In parallel, he has also obtained from the government the right to produce drones and other aerial combat vehicles on behalf of the armed forces.
Edi Rama and Ron Yeffet
When Edi Rama said some time ago that at the NATO summit expected to be held in Tirana next year, the leaders of the world's most powerful countries will be protected by drones produced in Albania, he was referring precisely to the drones that Ron Yeffet will produce with Arjeta Pucan from Lezha.
Editorial
