The chairman of the bond-issuing Michigan State Housing Authority is the target of several lawsuits adding up to more than $100 million, according to a report in the Detroit News this week.
Developer and housing chairman Bernard Glieberman has been sued several times in the last two years in Michigan, Florida and Texas for defaulting on loans that financed unfinished housing developments.
Glieberman, who Michigan Gov. Jennifer Granholm appointed to the board in 2003, told the Detroit News that the problems stemmed from a collapsed real estate market.
He said the state’s housing market in particular was a “train wreck.”
“I have lost a fortune in the last three years,” Glieberman said.w “I am doing things to put things right.”