Motti Gruzman | CEO of Excelion
Motti Gruzman: Real Estate Millions in Europe, Lawsuits and Foreclosures in Israel
Motti Gruzman began his career in real estate with small entrepreneurial ventures in Belgium, where he focused on purchasing small apartment buildings, renovating them, and either renting or selling them. According to his resume, he still owns 13 income-generating buildings from that period, with an estimated value of €6.365 million.
2009-2014: Personal income-generating properties alongside bankrupt companies with losses
During these years, Gruzman established the companies Renobelg and Renoglobal, specializing in property development and renovation. In his resume, he states:
"Using my own construction company allows me greater control over the renovation process and the assessment of new projects, which minimizes unnecessary expenses and maximizes profits."
According to him, he purchased and renovated seven properties, some of which he sold, and he currently holds assets valued at €1.98 million.
However, according to the records from the Belgian Companies Registrar (as seen in the image), the company reported losses over the years and is now undergoing bankruptcy proceedings.
2015 - Present: A series of failed projects under Excelion umbrella
In 2015, after abandoning the failing companies in Belgium and France, Gruzman established the company Excelion in England and began new projects in Andorra, Austria, and Switzerland. At the same time, he relocated to Israel and began operating from there.
However, Gruzman also encountered difficulties with investors in Israel, which is reflected in the lawsuits filed against him in the courts:
- Investors in Bruck project in Austria are suing Motti Gruzman for NIS 3.6 million, seeking reimbursement for their investment in a property that was seized and sold by the Austrian court.
- Gruzman lost a lawsuit to "Halvaot KaHalacha Ltd." for €1,000,000, resulting in a court order preventing him from leaving Israel.
- Another investor sued Gruzman for NIS 6,000,000 over undelivered apartments in the same Bruck, Zell am See project in Austria.List Item
- Gruzman lost another lawsuit for €700,000 regarding a loan taken for the Andorra project, which he failed to repay.
- Outside of Israel, a group of buyers approached a Bulgarian court, which seized Excelion's assets in the Dream View project in Pamporovo.
- Two former employees of Excelion Israel, owned by Nemirovsky & Gruzman, are suing the company and its owners for compensation.
- Sankt Martin project investors are suing Excelion by Gruzman & Nemirovsky both in Israel and Austria.
2019: Vlad Nemirovsky Joins Gruzman as Russian Investments Fundraiser
In 2019, Vlad Nemirovsky, founder and chairman of Fortune Capital, an investment brokerage in Moscow, joined Gruzman. Nemirovsky assisted Gruzman in raising investments from Russian citizens attracted to the story of “investing in the European dream.” These investors were unaware of Excelion’s entanglements in Europe and Israel, and now they are turning to Excelion Victims Board for assistance.
In the image: Nemirovsky presents Excelion in Moscow.
For more details: Nemirovsky – Russian Money for Excelion
