UPDATE, March 3, 2021, 8:30 a.m.: that of Yoel Goldman besieged A Brooklyn-based company revisits allegations that a convicted drug dealer granted him high-interest loans while incarcerated.

All Year Management previously alleged in a New York Supreme Court lawsuit that Jonathan braun, who pleaded guilty to drug trafficking and money laundering in 2011, was behind at least $ 11.5 million in high-interest loans to the developer and its affiliates in as part of a “larger loan shark plan”. The complaint was filed in February by the company and more than 100 of its subsidiaries.

Now All Year’s attorney claims in a new filing that “after further investigation and examination” the firm no longer believes that the allegations that Braun was involved “have a significant basis in fact or in law.”

“We have denied this from the start and I am happy that the truth has come out,” said Steven Berkovich, a lawyer representing defendant MapCap Funding, and the other defendants in the lawsuit. All Year had previously alleged that Braun had connections to MapCap.

The lawsuit is still pending against the other defendants and lenders named in the lawsuit, including MapCap Funding and Yes Capital Funding Group. The complaint alleged that lenders charged Goldman “criminal usurious interest rates” that sometimes exceeded 200%.

It’s unclear how Braun’s removal from prosecution will impact All Year’s ongoing trial. The allegation that Braun was ultimately behind the lending entities was at the heart of the complaint. He alleged that Braun conducted the operation from federal prison in Otisville, New York.

Braun was serving a 10-year prison sentence for a billion-dollar drug ring that prosecutors say smuggled marijuana from Canada via a Native American reservation in New York. He was sentenced in 2019 and pardoned by President Donald Trump shortly before stepping down.

The lawsuit sought to overturn a $ 9.2 million judgment filed by MapCap Funding, against Goldman, All Year and more than 100 other entities related to the developer.

The Federal Trade Commission and the New York attorney general’s office have conducted separate investigations into Braun and its related companies for allegedly making predatory loans to small businesses.

All Year, meanwhile, faces the foreclosure of its trophy asset: a huge apartment complex in Bushwick known as the the inhabitant. Silverstein Properties recently submitted a proposal without obligation to purchase phase I of the project at 54 Noll Street.

In January, trading in All Year Bonds was suspended after the company missed his bond payments and delayed its quarterly financial reports.

All Year’s attorney, Efrem Schwalb, declined to comment. The company spokesperson did not immediately return a request for comment.

CORRECTION: This story has been updated to clarify that All Year previously claimed that Braun had some connection with MapCap Lending.