Mohammed Alsaloussi Wins Case Over Miami Homes
An entrepreneur accused of carrying out a multi-million-dollar con against his well-heeled business partner won a court battle over $13 million worth of South Florida homes.
Miami federal Judge Beth Bloom discharged lis pendens on Mohammed Alsaloussi’s homes at 2051 North Bay Road in South Beach and 775 Northeast 77th Terrace in Miami, as well as a lis pendens notice on his house at 2040 Alton Road, also in South Beach.
The lis pendens, which are official notices that a claim on the properties has been made, were filed as part of a monthslong lawsuit against Alsaloussi.
In March, Christopher Drummond filed a lawsuit that claimed Alsaloussi swindled Drummond out of nearly $17.8 million, partly by getting him to bankroll various purported joint business ventures, including investments in a military supply company and a related patent. Alsaloussi diverted some of Drummond’s money to buy the South Beach and Miami homes, according to Drummond’s complaint, prompting him to place the lis pendens on the real estate.
Records show that in 2021, Alsaloussi affiliates bought the four-bedroom house at 2051 North Bay Road for $4.4 million, the three-bedroom home at 2040 Alton Road for $1.6 million, and the six-bedroom house at 775 Northeast 77th Terrace in Miami’s Belle Meade neighborhood for $7 million.
In her order, Bloom sided with Alsaloussi by lifting Drummond’s lis pendens on the houses in part saying that Drummond failed to establish a nexus between the money he provided for the joint businesses and the real estate.
Drummond “presents no evidence that the funds that [Alsaloussi] used to purchase the properties are directly traceable to funds plaintiff provided to Alsaloussi,” Bloom wrote in her June 12 order.
Attorneys for Alsaloussi hailed the outcome. The order recognized “Drummond’s failure to establish a good faith basis to allege any facts in support of his speculative allegations,” Terrence and Darren Oved, as well as Andrew Urgenson, said in an emailed statement.
Drummond stands by his allegations, said his attorney Michael Feldman in a statement, and “looks forward to pursuing and proving his claims.”
Indeed, the lis pendens dispute is part of a larger case over who owes whom money.
According to Drummond’s complaint, the pair met at a 2018 dinner in Miami Beach, befriended and embarked on a party lifestyle with heavy drinking. At one point, Alsaloussi suggested they go into business together. In reality, Alsaloussi was trying to “ingratiate” himself to Drummond and gain his trust, at one point starting to call him “brother” to signify the extent of their friendship, according to the complaint. To give himself an air of wealth, Alsaloussi picked up Drummond in Ferraris and Rolls Royces and claimed his family owned the Middle East’s second biggest oil refinery.
Alsaloussi “uses the appearance of status to gain entry to high net-worth circles. His modus operandi is similar to that of Anna Sorokin,” Drummond’s complaint says, referring to the Russian-born convicted fraudster who is also known as Anna Delvey. In reality, Alsaloussi had no clear employment or source of income, Drummond’s lawsuit claims.
In one instance of the alleged scheme, Alsaloussi misrepresented that he had covered Drummond’s $5.9 million investment half for their joint business venture, prompting Drummond to wire this amount to Alsaloussi’s personal account, according to the complaint.
Alsaloussi counters in a signed affidavit that he is a “successful businessperson from a well-respected family who does not need any of Drummond’s money.”
His LinkedIn says he is CEO of investment firm Alsaloussi Holdings and Monarchy Capital.
In court filings, Alsaloussi argues that his bank accounts show he had sufficient funds to purchase the real estate and that in reality it’s Drummond who owes Alsaloussi money to the tune of $11.4 million.
“Alsaloussi often fronted the capital for their business ventures and Drummond was often
delinquent in paying his share,” according to Alsaloussi’s court filings.
Drummond is an heir to the family that started Alabama-based coal producer Drummond Company, Alsaloussi’s attorneys claim in filings, though Drummond’s attorneys didn’t confirm this.
Some of their joint ventures included the co-management of a pair of yachts, Alsaloussi claims. But when Drummond sold one of the boats for over $5 million, he didn’t reimburse Alsaloussi for his share, according to Alsaloussi’s court responses. Drummond had acknowledged his debt to Alsaloussi. In one exchange in 2021, Drummond wrote that he would “go ahead and wire” Alsaloussi reimbursements for his debts “before they get any bigger,” according to a court filing.
The Drummond-Alsaloussi dispute continues a trend of South Florida real estate popping up in lawsuits. In one instance, the Securities and Exchange Commission filed a civil suit in 2021 against a Miamian over allegations he diverted money from a payday loan scheme to bankroll his lavish lifestyle, including real estate purchases. According to records, the accused paid $1.5 million for unit 5101 at the 54-story Epic Residences & Hotel in May 2019.
