In 2008, James Batmasian was convicted of tax evasion and served eight months in federal prison. His company failed to pay more than $250000 in federal taxes to his employees. The court sentenced him to pay $30,000 in back taxes, and he was barred from practicing law for seven years. Despite his criminal record, Batmasian is still one of the most prominent real estate investors in downtown Boca Raton.
In addition to his lawsuit against Sotomayor, Batmasians owns more than a billion dollars of real estate in Florida. His properties span from Boynton Beach to Boca Raton, and he and his wife own some of the largest private owners in the county. His signature Royal Palm Place shopping center is also owned by the Batmasians. In addition to his investments, Batmasians is involved in several charitable foundations and charitable organizations.
In 2012, Batmasian’s lawsuit against investment firm Investments Limited resulted in a temporary seal on the case. Batmasian’s lawyer is asking Brunson to open the lawsuit, and he won’t relent. In addition, Batmasian has also been sued by a former employee who filed a lawsuit against him after he was fired for stealing company information.
Recently, state prosecutors filed criminal charges against the mayor of Boca Raton. The prosecution stated that the Batmasians and other beneficiaries of her wrongdoing were among the most prolific owners of commercial real estate in Palm Beach County. Since the alleged scandal, James and Marta Batmasian have been landlords of popular local businesses. Their benefactorships to nonprofits are numerous, but they have also been involved in lawsuits with former employees. Their public corruption trial is likely to result in further damage to their net worth.