Fahad Ghaffar Faces Allegations of Misconduct in Hotel Ventures

An individual, identified as the central figure in a federal case against former Governor Wanda Vázquez Garced, is now entangled in a legal dispute. Although not explicitly named in the federal indictment, Fahad Ghaffar is at the centre of a lawsuit accusing him of the unlawful appropriation of nearly $8 million from the operations of La Concha and Vanderbilt hotels.

This civil lawsuit, filed recently in the Court of First Instance in San Juan, alleges that Ghaffar engaged in activities amounting to a crime, including an attempt to conceal approximately $16 million from a business partner.

In a separate legal battle, Ghaffar and his former boss, John Paulson, have been locked in a legal and public relations dispute. This dispute erupted after Paulson removed Ghaffar from his positions from ventures in late July. Ghaffar retaliated by alleging that Paulson had defrauded him of $17 million in an investment related to a portfolio of car dealerships under Paulson's control. Simultaneously, Paulson announced his intention to pursue legal action against Ghaffar for alleged illegal schemes during his tenure in Paulson's commercial structure, although this lawsuit has yet to materialise.

Before the conflict with Paulson unfolded, Ghaffar's wedding was depicted as a pivotal moment in the alleged bribery events involving the former governor, banker Julio Herrera Velutini, and former federal agent Mark Rossini. Without explicitly mentioning Ghaffar's name, the indictment described Ghaffar's direct involvement in discussions and actions with Vázquez Garced and Herrera Velutini, where financial support for the official's political campaign was tied to changes favourable to the banker's institution, Bancrédito International Bank & Trust. It is worth noting that Bancrédito has since been closed and fined $15 million by the federal government.

In the recently filed lawsuit, investor Ibrahim Sammy Odeh alleges that he and Ghaffar co-founded Condado Hotel Owners LLC (CHO) on November 19, 2020. Both held equal 50% ownership stakes in the company, with Ghaffar appointed as the administrator. They each invested $3.5 million in CHO, intending to allocate it toward various investments while sharing profits and losses equally.