Alberto Safra files lawsuit in NY against mother and two brothers – 02/06/2023 – Market

Billionaire heir Alberto Safra has sued his mother and two brothers amid a dispute over the fortune of his late father, Joseph Safra, according to a lawsuit filed Monday in New York Supreme Court.

Safra’s lawsuit accuses his family members of purposefully diluting his stake in the Safra National Bank holding company in an effort to oust him from the family empire.

Alberto says in the lawsuit that his mother, Vicky Safra, and brothers Jacob and David Safra were involved in acts of corporate impropriety to harm his interests in the company.

Alberto resigned from Safra’s board of directors in November 2019 following a dispute with his younger brother David.

In 2021, Alberto and the family approached an agreement on his father’s will, to avoid litigation over a fortune of nearly $ 15 billion, Reuters published.

In a note, the Safra family stated that a few months after receiving a donation from the country in anticipation of his inheritance, Alberto left Banco Safra without heeding the requests made by his father and started a competing business “having even harassed and hired several executives from the group .”

The Safra family also stated that Joseph at the time spoke to several executives asking them not to accompany Alberto, as it was an affront to himself. “After Alberto’s repeated refusals to change his plans, Joseph disowned him and took action at that time.”

“The family regrets the path taken by Alberto, who first attacked his father while he was alive and is now attacking his memory, and refutes his allegations,” the statement concludes.