Developer Shvo Defeats Fraud Claims in Fight With NY Club

Luxury developer Michael Shvo fended off claims that he lured a trendy members-only club to move into New York’s historic Coca-Cola building as part of a fraudulent scheme.

The ruling is a win for Shvo, who has been facing scrutiny over his management of US commercial real estate investments made alongside Deutsche Finance America, a unit of Munich-based investment firm Deutsche Finance Group, and German pension group Bayerische Versorgungskammer.