The conman who attempted to buy a bank

Last Sunday, Kathimerini revealed that the individual posing as a Jewish-American multibillionaire named David Sassoon is not who he claims to be. He has been convicted of criminal offenses abroad and, according to official documents, his real name is Khalid El Sheriff and he is a Sudanese national.

Sassoon arrived in Greece in August 2020, driving an old car and, as per testimonies, without proper travel documents. He had just been released from prison and was penniless. So how did he manage to organize a conference at a cost of half a million euros and with former US secretary of state Mike Pompeo as the keynote speaker within just three years? Kathimerini conducted an investigation to shed light on David Sassoon’s activities in Greece.

The first ‘bite’

Despite making numerous contacts in Greece during his first six months in the country, he struggled to raise funds, and the millions from the alleged trust fund never made it to the company’s bank accounts. In January 2021, he announced his decision to withdraw his investments from Greece and initiated negotiations in South Africa. He reached an agreement with Bluedrop, in which he committed to invest $40 million in energy projects. Sassoon requested – and they sent him – $48,000 for “technical studies” required to kick-start the project.

Meanwhile, he assembled a fresh team of employees from the United States and Israel, and sent an invitation for them to stay at the Cape Sounio hotel, situated to the southeast of Athens. “We are looking forward to getting to know everyone personally and building friendships,” he wrote to them. He made an advance payment to the hotel and sought facilitation from an Israeli travel agency: “He would provide us with a credit card, but the payment would be made after the event. He came highly recommended, and regrettably, we accepted this,” says Batia Idan, who handled the reservations. Among the 25 guests were new employees, their families, and what he referred to as “VIPs”: a Greek-American former official of the US Defense Intelligence Agency, a retired Israeli brigadier general, and a prominent rabbi. Three attendees who spoke to Kathimerini explained that even those who had doubts about the unknown billionaire were all impressed by his hospitality. They traveled first class, stayed in suites, enjoyed beachside receptions, and smoked cigars in Sassoon’s presidential suite during the evenings. “You are looking to the left, to your right and everybody you are looking at is reputable, very good people.”

After the trip concluded, the Greek-American “VIP” was convinced to join the board of the Sassoon Group. He approached a law firm in the upmarket Kolonaki neighborhood and sought legal assistance in obtaining Greek citizenship for Sassoon. The lawyer met with him twice and learned of Sassoon’s ambitions, including purchasing the port of Iraklio on Crete to prevent it from falling into Chinese hands. He said he wanted high-level political and business connections and wanted them fast. Alarmed by these intentions, the lawyer decided to inform the authorities. In correspondence that has since been seen by Kathimerini, he stated, “If he’s not involved in espionage, it’s a significant scam.” Coincidentally, a few weeks later, a former partner of Sassoon reported him, leading Greek authorities to uncover evidence of his activities in England. However, since there were no specific fraud charges in Greece, they informed him that criminal charges could not be substantiated.

Meanwhile, the travel agency initiated legal action against Sassoon’s wife because, despite continuous assurances and alleged deposits, they had not received the $70,000 owed to them. The hotel bill remained unpaid as well. Sassoon turned to his associates for financial assistance, but they declined. Nonetheless, one of them received a frantic phone call from him, purportedly from a police station. “He called me and told me I had to pay so they would not arrest him,” she says. She deposited €15,000 into the hotel’s account (which still bears the pending debt). The travel agency was eventually paid months later by the “VIP” rabbi.

He wanted to purchase the port of Iraklio so it would not fall into Chinese hands. ‘If he’s not involved in espionage, it’s a significant scam,’ a lawyer said

The new partners came to realize that there were significant gaps in their dealings. Even the South African investment failed to progress. Sassoon persistently demanded more money, causing Bluedrop to withdraw its involvement. Nearly the entire team resigned simultaneously. Despite these setbacks, Sassoon remained undeterred and set his sights on a new $30 million investment, a hotel in Cameroon. His new partner there sent him at least three transfers totaling $600,000.

However, these financial transactions were not the only money Sassoon received during his three years in Greece. Israeli entrepreneur Itzik Dahan estimates that just from his various contacts, Sassoon managed to acquire nearly $1 million.

The two men first crossed paths in December 2021. Their initial encounter revolved around discussions about potential investments, accompanied by a coffee outing in Sassoon’s old clunker. When the two stopped at a gas station, he handed over a 50-euro bill and requested 20 euros’ worth of gasoline. “Clearly, something didn’t match the typical profile of a billionaire, but he seemed to have an explanation for everything. For instance, he had a sentimental attachment to the car since it was in it that they once traveled to Greece. I thought he might be an eccentric wealthy individual. He came across as professional during our meetings,” Dahan explains.

Sassoon proceeded to inform Dahan that he had opened a US account, designating Dahan as the beneficiary, and he promised to deposit 73.5 million dollars in it for their joint investments. Concurrently, they discussed the remarkably favorable terms he would be offering to those investing in bonds from his private bank. Inspired by these discussions, Dahan decided to invest $100,000 in the venture, and many of his friends and acquaintances followed suit.

In the summer of 2022, Dahan introduced him to Doron Zentner, the head of Taglit in Europe, a Jewish educational organization seeking sponsors in Greece. Zentner recollects, “Without a second thought, Sassoon told me that he would cover all the expenses for a grand fundraising event.” When Zentner inquired within the Jewish community about his new acquaintance, no one seemed to know him. Still, Sassoon had already initiated enthusiastic discussions about the gala, which discouraged Zentner from conducting a more thorough investigation.

Meanwhile, Sassoon’s associates contacted Attica Bank to request a meeting. On August 2, Konstantinos Makedos, the bank’s chairman, received him in his office. During the meeting, he learned about Sassoon’s purported dynastic heritage and his ambition to acquire the bank. Subsequent meetings ensued, and plans for a meal at the Bank of Greece. Yet, upon receiving the official proposal, they exercised caution. “It sounds too good to be true,” Greek central bank chief Yannis Stournaras commented on reading the proposal. Both bankers concurred that further investigation was warranted before proceeding.

Makedos delegated this task to a law firm, and their investigation revealed that the company based in the United States had invalid details, including the tax identification number, SEC file number, and even the address. Their report raised concerns and concluded: “The results of our search raises serious doubts as to the legitimacy of Sassoon. We strongly recommend performing further due diligence on this entity.” Upon receiving legal counsel, the Bank of Greece was notified. Subsequently, this information reached Maximos Mansion, the Greek prime minister’s official residence in Athens, as well as the Cooperative Bank of Central Macedonia, with which Sassoon was concurrently engaged in negotiations.

The telephone call

In the meantime, Dahan paid another visit to Sassoon and observed that he was now in a Porsche, complete with chauffeur and security. This “upgrade” provided some reassurance. After all, Sassoon had claimed he’d made a $73.5 million deposit, even providing a receipt. However, at an unexpected moment, Dahan noticed that the account number was “123456789.” The bank verified his suspicion: The receipt was fraudulent. He contacted Sassoon and recorded their conversation. “Whatever I’m gonna say, it’s not going to matter anyway… I’ve been working my ass off 27/4 to get things done… I’m not cheating anyone, it’s all real,” Sassoon insisted, despite being exposed. To which Dahan replied: “Tell me what to do, so that my people are not hurt. I want all their money to come back.”

Dahan refrained from reporting him to the authorities, hoping the money would be returned (as of today, he has only received $6,000). However, he did warn Zentner, who was preparing for a Taglit event in Athens at that time. “Everything is set; Sassoon has covered all the expenses. I can’t cancel,” Zentner told him. Indeed, on November 7, Sassoon, as the newly appointed chairman of Taglit in Greece, hosted former Israeli president Reuven Rivlin, Israeli Ambassador to Greece Noam Katz, and numerous other dignitaries. Katerina Monogiou, a conservative MP, accepted an award on behalf of the prime minister (she says it was without the knowledge of Maximos Mansion). This was followed by a reception featuring live music at the Grand Hyatt Athens (part of whose payment remains outstanding, and the hotel has initiated legal action against the group). Subsequently, Zentner received further warnings about Sassoon’s “troubling past.” Meanwhile, Taglit decided to end their cooperation, notifying him of the decision without issuing any official statement.

On November 18, 2022, a new company was founded under the name “Joseph Sassoοn Hellas,” ostensibly intended to manage the trust’s millions. Based on the island of Rhodes, it had an initial capital of 25,000 euros, with the founders being a Greek lawyer and his brother, who were associates of Sassoοn. Strikingly, Sassoοn himself was absent from the company’s incorporation documents.

The lost cousin and the ‘borrowed’ grandmother

At a certain point, Sassoοn discovered the existence of someone named Michael Cattaui living in Greece, and he fervently sought to find him (claiming that his mother was Josephine Cattaui from the renowned dynasty). The real Cattaui heard the claim of them sharing the same great-grandfather and, given his knowledge of his genealogy, confidently informed him that “he is not related in any way, shape or form to our family,” he tells Kathimerini. “He even said I was entitled to some of the funds and the bank he was creating, asking me to join the board of directors. I obviously refused to even meet him,” he says.

In Athens, Sassoοn successfully arranged countless professional and social engagements. He regaled those he associated with with incredible stories of his alleged involvement with the CIA, his canine companion from the special forces (despite finding it in Athens), and the movie “Black Hawk Down,” supposedly inspired by his mission in Somalia. Official American documents available to Kathimerini indicate that he never served in the US Army. In 1992, he entered the United States with a Sudanese passport under the name “Khalid El Sheriff.” From 2005 to 2013, he served multiple sentences in American prisons for financial fraud.

Unaware of his checkered past, some people were genuinely convinced. Someone even nominated him for membership at the Athenian Club. A shipowner with a distinguished name but limited maritime activity pledged an investment of $300,000 (Kathimerini reached out to him, but he declined to provide a comment).

In the spring, he made the decision to proceed with the conference. He contracted event management and communication firms, secured Pompeo’s participation through an agent (for a fee of $225,000), and gave interviews. However, as of last week, many of the individuals who had worked to organize the conference had yet to receive their payments.

Nonetheless, the conference did indeed occur. On the evening prior to the event, Sassoοn hosted a dinner in an opulent, fully furnished apartment located in the Anaktora neighborhood near the Presidential Palace, which he had recently rented for this specific purpose.

His guests included Pompeo, the Israeli ambassador, and the US ambassador, whom he met that evening. They discussed everything he intended to do for Greece with their support.

After all, he emphasized that it was the land where his ancestors had originated, gesturing toward a portrait displayed in the dining room, that of a young woman.

“She’s my grandmother, born in Thessaloniki,” he asserted. However, the painting had been in the possession of the Greek homeowner for numerous years.