CANADA Canada - Billionaire Couple Barry & Honey Sherman Murdered at Home, Toronto, 15 Dec 2017 #21

[RHR]

If anyone can explain this to me, I’d appreciate it.

KD reported that Barry Barry was worth $4 billion when he died, but his sources told him the true number was about $10 billion because he had money in offshore accounts.

Wouldn’t that six billion be vulnerable? If a shell company is set up with fictitious directors, couldn’t someone who knew about the scheme step in and move the money and take it for themselves?

I know someone who knew them. When it was reported that he was worth 4 billion i was told then that it would be more like 10 billion. According to this person, BS didn't remember some of the stuff he owned or had invested in.
He really had no interest in the day to day goings on of all of those investments.

 

[Lexiintoronto]

I know someone who knew them. When it was reported that he was worth 4 billion i was told then that it would be more like 10 billion. According to this person, BS didn't remember some of the stuff he owned or had invested in.
He really had no interest in the day to day goings on of all of those investments.

I agree he didn’t know about the details of his investments, in a court case he described his finances as a ‘labyrinth’ of holdings.

But he was brilliant and was taking a hard look at his finances just prior to his death. I’m wondering if he was making plans to gift HS that $500 million and he, or someone else, found that invested money had been moved or was missing (or he was about to find out.)

 

[RHR]

I agree he didn’t know about the details of his investments, in a court case he described his finances as a ‘labyrinth’ of holdings.

But he was brilliant and was taking a hard look at his finances just prior to his death. I’m wondering if he was making plans to gift HS that $500 million and he, or someone else, found that invested money had been moved or was missing (or he was about to find out.)

I think when he lost that court case his accounting people and possibly AG, ( A GOOD REASON FOR JS TO HATE HIM), started looking at the money he had been investing to see if any of it was coming back to him as profit. I think that is when they realized that the green storage buildings did not cost as much as JS and AP told him they were. I believe he gave them around 50 million over the asking price for them.

 

[dotr]

AG might know where everything can be found?
$329,286 does seem steep, imo, speculation.

Many lined up at the ‘Bank of Barry’ Sherman: Inside the $10 billion succession battle

Sherman daughter says her life is more tragic than a Shakespeare play; Son Jonathon says of his sudden wealth, at some point it is just ‘extra zeros.’

www.thestar.com

2021 rbbm.
''In the crush of 7,500 people who attended the Dec. 21, 2017 memorial for the founder of generic drug giant Apotex and his philanthropic wife was a short, bearded man, as observant of the Jewish faith as his late boss was a fiery atheist. Alex Glasenberg was and still is the caretaker of what the Sherman family has long referred to as the “Bank of Barry.”

“I mean no disrespect of course, but Alex Glasenberg knows where all the financial bodies are buried,” said one Sherman insider.

Glasenberg is the president of Sherfam, the Sherman family holding company, headquartered in a squat, two-storey building north of Toronto. A coded keypad, cameras in the ceiling and a heavy door guard a nerve centre with tentacles Barry’s wheeling and dealing have spread throughout the world — real estate, pharmaceuticals, offshore banking. Driving by, you would not give its brown bricks a second look.''

''Complicating matters is the fact the three estate trustees with the legal authority to make decisions about the Sherman estate are Jonathon, Glasenberg and Brad Krawczyk, Alexandra’s husband, who works for Glasenberg.''

''Jonathon and husband Fred recently had two children by surrogacy, paid for by Barry shortly before he died at a cost of $329,286, which Barry remarked in an email to Jonathon “seems very high.”

 

[Lexiintoronto]

I think when he lost that court case his accounting people and possibly AG, ( A GOOD REASON FOR JS TO HATE HIM), started looking at the money he had been investing to see if any of it was coming back to him as profit. I think that is when they realized that the green storage buildings did not cost as much as JS and AP told him they were. I believe he gave them around 50 million over the asking price for them.

That’s similar to what I believe. The Eastern Ave. purchase price isn’t publicly available (it’s registered as $2.00). Sherfam transferred $50 million to JS & AP’s holding company in order to make the purchase. Then shortly after that, BS asked JS & AP for the return of $50-60 million.

Detective Yim and the Crown Attorney mentioned JS’s large storage company in the east end, and my opinion is that it’s the Eastern Ave. facility. They wanted to draw KD’s attention towards it, imo. But I don’t know why exactly.

 

[WINDSOR]

If anyone can explain this to me, I’d appreciate it.

KD reported that Barry Barry was worth $4 billion when he died, but his sources told him the true number was about $10 billion because he had money in offshore accounts.

Wouldn’t that six billion be vulnerable? If a shell company is set up with fictitious directors, couldn’t someone who knew about the scheme step in and move the money and take it for themselves?

I believe the confusion between the $4 Billion and $10 Billion is in regards to the valuation of the worth of Apotex and related business holdings. Initially the media reported that Apotex was worth $4 Billion. However other pundits stated it could be worth $10 Billion. What somethin is worth is what someone will pay for it.
Apotex has been sold, but the price has not been disclosed.

No doubt Barry would have ensured any bank deposits in offshore accounts would have been secure.

BTW, Shell company do not require fictitious directors. They usually have real people as directors.

 

[ldlager]

If anyone can explain this to me, I’d appreciate it.

KD reported that Barry Barry was worth $4 billion when he died, but his sources told him the true number was about $10 billion because he had money in offshore accounts.

Wouldn’t that six billion be vulnerable? If a shell company is set up with fictitious directors, couldn’t someone who knew about the scheme step in and move the money and take it for themselves?

I am sure the accounts were set up to protect BS in some way. Perhaps through having trusted people as account trustees,lawyers etc. For sure AG knew all the details of where BS' money was located/invested and he therefore was indispensable to BS. BTW there is nothing illegal in Canada about holding funds or investments offshore, this is a common practice and as long as CRA rules are complied with there are no issues (legal ones anyways).

I think we have to assume AG is an honest person and he is managing these funds for the benefit of the Sherman children, including disclosing to them where the funds are; which businesses/real estate BS/Sherfam invested in, etc. . I am not aware of any legal actions initiated by the beneficiaries that would indicate that AG has not been forthcoming with them. JS has allegedly indicated he wats to get rid of AG, perhaps because he hates having someone else "in control" of the funds or having all the knowledge of the whereabouts of the funds.

 

[ldlager]

I’ve had the same thought-- that with the house, the gift to Honey, possibly even Honey’s gift to MS, JS may have felt he was the only one facing “austerity measures”.

IMO, he and AP did not intend to take up mortgages or repay Barry/Sherfam. He had not taken substantive steps to obtain mortgages. In interviews after, he’s made it clear that there was nothing in his arrangements with Barry that obligated him to do so (what we want, when we want, etc.) He and AP even obtained another $6m+ — it seems by representing that they needed that pending the mortgages, mortgages I don’t think they intended to get.

Obtaining those mortgages would be a whole process. IMO they would need commercial appraisals which could take time and cost $. Query whether the properties’ value could even support those mortgages. Was there enough equity in the properties to obtain mortgages of the amount Barry sought?

I’ve always been curious about an accounting of all of the monies advanced to JS/AP. Where did it go? Did it really mainly go into JS/AP real property—whether storage, marina or cottage(s)? Or was it being separately spent/invested by JS and AP?

Regardless, I don’t think they wanted to return it, intended to return it, and possibly even were able to return it. MOO, speculation.

The presumption in securing third party mortgages on the properties would be IMO that BS/Sherfam's existing mortgages would be removed, or would be subordinated to the ban's (new) first mortgages.

 

[Bobbi Pearl]

I often wonder how freely they gave out the alarm password? The housekeeper must have had the code, did the fitness instructor, gardener and friends and family all have the code? Kinda defeats the point of a security system if everyone knew the code!

We provide a different code to anyone that needs to enter when we are not present. That way we know who it was that entered.

 

[ldlager]

I believe the confusion between the $4 Billion and $10 Billion is in regards to the valuation of the worth of Apotex and related business holdings. Initially the media reported that Apotex was worth $4 Billion. However other pundits stated it could be worth $10 Billion. What somethin is worth is what someone will pay for it.
Apotex has been sold, but the price has not been disclosed.

No doubt Barry would have ensured any bank deposits in offshore accounts would have been secure.

BTW, Shell company do not require fictitious directors. They usually have real people as directors.

BS also owned or had investments in many other operating businesses, and or real property assets.

 

[dotr]

rbbm

W.P. Carey pays $468M US to acquire Apotex GTA properties

U.S.-based REIT W.P. Carey (WPC-N) will invest $468 million US to acquire a “critical portfolio of four pharmaceutical R&D and manufacturing campuses” in the Greater Toronto Area from generic drug giant Apotex Pharmaceutical Holdings Inc.

renx.ca

Apr. 4 2023 rbbm

''U.S.-based REIT W.P. Carey (WPC-N) announced this morning it will invest $468 million US to acquire a “critical portfolio of four pharmaceutical R&D and manufacturing campuses” in the Greater Toronto Area operated by Canadian global generic drug giant Apotex Pharmaceutical Holdings Inc.
The portfolio represents the majority of Apotex’s global operations, comprising 11 properties which cover about 2.3 million square feet of space. It is being acquired as a sale-leaseback.
The lease is structured as a triple-net master lease with rent payable in U.S. dollars and fixed rent escalations over a 20-year term. The sale-leaseback transaction closed April 3, concurrently with private equity firm SK Capital's majority buyout of Apotex, financing a portion of the buyout.
Financial terms of SK Capital's buyout of Apotex have not been released.''


''Apotex was founded in the mid-1970s by Barry Sherman, a billionaire who was found murdered in his Toronto home with wife Honey in 2017. The future of the company has since been uncertain, and embroiled in controversy.
Apotex has also been the subject of legal action including a price-fixing scandal in the United States.
At the time of Sherman’s death, the company was considered to be worth about $3 billion.''

 

[Window21]

Here are my thoughts on JS. It appears JS has issues with anyone that has authority or anyone that may control the money or business.

He fired JK
He has issues with AG
He has disowned MS
AK and JS no longer speak
JS has bashed his BS and tried to declare him incompetent
JS and HS has had a rocky relationship

I think just these few issues speak volumes. Also it seems whenever he wanted money he would multiply by 2 or 3 so he had extra cash. There is no way the 2 surrogacies was almost 350 thousand...maybe 150 thousand max. The storage business? No way it was 50 mil, maybe 15 mil max.
All JMO!

 

[RHR]

That’s similar to what I believe. The Eastern Ave. purchase price isn’t publicly available (it’s registered as $2.00). Sherfam transferred $50 million to JS & AP’s holding company in order to make the purchase. Then shortly after that, BS asked JS & AP for the return of $50-60 million.

Detective Yim and the Crown Attorney mentioned JS’s large storage company in the east end, and my opinion is that it’s the Eastern Ave. facility. They wanted to draw KD’s attention towards it, imo. But I don’t know why exactly.

I was told by a someone very reputable that All City Storage sold for 25 million

 

[MerlinFalcon]

We provide a different code to anyone that needs to enter when we are not present. That way we know who it was that entered.

I'm a service provider and have either been given my own code or used the client's code. Also, so many people give codes that are WAY too easy. And on that note, I can't see Honey and Barry giving all their kids and various service providers different codes when they left a door or 2 unlocked and didn't password protect their iPads, phones etc. I think someone said Barry always used a version of 1234.

 

[Lexiintoronto]

I was told by a someone very reputable that All City Storage sold for 25 million

25 million seems more likely than 50, imo. One way of finding out would be to look at comparable business real estate sales in that area during 2017. Then factor in how much it would take to renovate it to bring it under the Green Storage banner. They’re not that different compared to other basic storage companies. It looks like they painted it lime green, put in electric charging units for cars, low-flush toilets and freshened it up, imo.

I think similarly to you that the purchase raised red flags at Sherfam, imo.

 

[Lexiintoronto]

I am sure the accounts were set up to protect BS in some way. Perhaps through having trusted people as account trustees,lawyers etc. For sure AG knew all the details of where BS' money was located/invested and he therefore was indispensable to BS. BTW there is nothing illegal in Canada about holding funds or investments offshore, this is a common practice and as long as CRA rules are complied with there are no issues (legal ones anyways).

I think we have to assume AG is an honest person and he is managing these funds for the benefit of the Sherman children, including disclosing to them where the funds are; which businesses/real estate BS/Sherfam invested in, etc. . I am not aware of any legal actions initiated by the beneficiaries that would indicate that AG has not been forthcoming with them. JS has allegedly indicated he wats to get rid of AG, perhaps because he hates having someone else "in control" of the funds or having all the knowledge of the whereabouts of the funds.

I get the impression AG is completely trustworthy as well.

I know a nurse who decided to take some of her money out of her retirement investments and build her dream home with her husband. It turned out that on their documents everything looked fine but someone in the investment firm had depleted her money and the money of several other clients. They used it for risky investments and lost most of it. If she hadn’t started to build her dream home, she wouldn’t have found out about the loss until she retired. (That made me think of Honey and the $500 million and her new dream home.)

 

[FromGermany1]

From what I understand, they were looking to purchase a house for quite some time.
They purchased a house close to the one that they were starting to build but decided it wasn’t right for what they needed. That was the house that MS was renovating with HS to sell.
Not long after the funeral, JS went to the site and told the contractors that they were employed and the trades were told to stop the work and pack up and leave. He had MS sign over the house to the estate/ he and his three sisters.
The gift of money to HS was talked about in the late summer of 2017.
HS wanted to live close to her daughter, grandchildren and her sister.
As did BS. He just didn’t like change.
The big house wasn’t because HS was fancy or a show off.
She wanted to host charity events and fundraisers at the house.
She was used to attending these type of events at other people’s homes.
HS saying that MS’s kids would be the beneficiaries to the $500 million was precisely because she knew that the Shechtman children would get nothing if left to the four Sherman children.
Barry from what I have heard agreed that’s how HS ‘s money would be distributed upon her death.

Interesting, thank you. I didn't know all the details. - So blood relationship would have paid off in the end (... if not ...)?

 

[taylorss]

AG might know where everything can be found?
$329,286 does seem steep, imo, speculation.

Many lined up at the ‘Bank of Barry’ Sherman: Inside the $10 billion succession battle

Sherman daughter says her life is more tragic than a Shakespeare play; Son Jonathon says of his sudden wealth, at some point it is just ‘extra zeros.’

www.thestar.com

2021 rbbm.
''In the crush of 7,500 people who attended the Dec. 21, 2017 memorial for the founder of generic drug giant Apotex and his philanthropic wife was a short, bearded man, as observant of the Jewish faith as his late boss was a fiery atheist. Alex Glasenberg was and still is the caretaker of what the Sherman family has long referred to as the “Bank of Barry.”

“I mean no disrespect of course, but Alex Glasenberg knows where all the financial bodies are buried,” said one Sherman insider.

Glasenberg is the president of Sherfam, the Sherman family holding company, headquartered in a squat, two-storey building north of Toronto. A coded keypad, cameras in the ceiling and a heavy door guard a nerve centre with tentacles Barry’s wheeling and dealing have spread throughout the world — real estate, pharmaceuticals, offshore banking. Driving by, you would not give its brown bricks a second look.''

''Complicating matters is the fact the three estate trustees with the legal authority to make decisions about the Sherman estate are Jonathon, Glasenberg and Brad Krawczyk, Alexandra’s husband, who works for Glasenberg.''

''Jonathon and husband Fred recently had two children by surrogacy, paid for by Barry shortly before he died at a cost of $329,286, which Barry remarked in an email to Jonathon “seems very high.”

According to KD, AS is now divorced from Krawczyk…. I wonder how that’s affected the trustee situation

 

[RHR]

According to KD, AS is now divorced from Krawczyk…. I wonder how that’s affected the trustee situation

Apparently AS and BK have a very close relationship still so I don’t think the trustee situation changes. I’m sure JS wishes BK and AG were not trustees.

 

[sandy_80]

new to this case
the very first thing that is bizzare to me
is HOW exactly..was this suspected as murder/suicide
how does this happen using belts and how could it be staged this way ! ..why was this even suspected ?
also very clrealy an inside job .. with many gain/revenge motives around...how is it still unsolved
is there any physical evidence from the scene ?