Fred Daibes

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Fred Daibes (born 1956/1957 [1] ) is an American real estate developer. He was a key figure in the revitalization of Edgewater, New Jersey, and the development of the Gold Coast along the Hudson River. [2]

He and his parents immigrated to the United States from Lebanon in 1969 and his family settled in Edgewater, New Jersey. He graduated from Leonia High School. [3] Daibes got his start working in a masonry company with his father and expanded into contracting and then real-estate development in the 1980s, with projects becoming successively larger and more luxurious. [4]

In November 2013, a group of four people broke into the apartment where Daibes and his wife were sleeping, beat them and stole $2 million in cash, along with jewelry and gold. [5]

In May 2023, the New Jersey State Commission of Investigation released a report that found that elected and appointed New Jersey officials deliberately worked to benefit Daibes with some of them receiving business contracts and one receiving a discounted rent for a luxury apartment. [6] [7]

Daibes is accused of giving senator Robert Menendez and his wife bribes of cash and nine bars of gold bullion in exchange for the senator’s help in a bank fraud case Daibes faced by installing a US attorney who would likely make the prosecution less severe. [2] [1] Some of the gold bars found in the FBI search of the Menendez home had serial numbers connected to the November 2013 robbery from Daibes' apartment. [8]

Fred Daibes was sentenced to 3 years for fraud, to be served concurrently with 7-year bribery sentence. [9]

References

  1. 1 2 Cattafi, Kristie. "Edgewater developer indicted along with Menendez in corruption scheme. Who is Fred Daibes?", The Record , September 22, 2023. Accessed January 4, 2024. "Fred Daibes, an Edgewater developer largely responsible for the 'gold coast' boom of high-rises along the Hudson River in Bergen County and a bank founder with prior legal woes, was one of five people indicted Friday in an alleged corruption scheme involving Sen. Bob Menendez and his wife. Daibes, 66, was already awaiting sentencing on Oct. 26 after he pleaded guilty to banking crimes in April 2022."
  2. 1 2 Young, Elise; Tully, Tracey (October 16, 2023). "The Real Estate Tycoon Whose Fingerprints Are on the Menendez Indictment" – via NYTimes.com.
  3. ↑ "Daibes named 'Person of the Year'", Northern Valley Suburbanite (North), March 19, 2003. Accessed January 4, 2024. "In 1969, Assad and Mona Daibes came to the United States and settled in Edgewater. At the age of 12, Fred Daibes’ journey from Beirut, Lebanon had only begun. While his mother remained a homemaker, Fred’s father set about establishing Assad Y. Daibes & Sons, a construction company. Through example, he laid the foundation for fundamental human values and a strong sense of community in his children. Young Fred completed Leonia High School and went off to college; an experience soon interrupted when his beloved father became terminally ill."
  4. ↑ Scivoli, Michael. "Local Developer Fred Daibes: A Reflection of Community", Vue New Jersey. Accessed January 4, 2024. "Daibes Enterprises’ inception was in the mid-1980s, a few short years after the passing of Daibes’ father, who formed a small masonry business with his two sons just 10 years after immigrating to the U.S. from Lebanon."
  5. ↑ Ivers, Dan. "Lawyers: Couple charged in $2M robbery at luxury Edgewater high-rise the victims of 'inside job'", NJ Advance Media for NJ.com, December 6, 2013. Accessed January 4, 2024. "Adonis Sepulveda, 30, and Ramona Mercado-Vasquez, 26, were arrested after police found $2 million in cash, along with gold and jewelry, inside the apartment they share at the St. Moritz high-rise overlooking the Hudson River. Authorities say the cash and other items were taken from the building's owner, Fred Daibes, on Nov. 26., after four armed men barged into his apartment as he slept and beat him for nearly three hours."
  6. ↑ "Lawsuits, accusations and investigations: Here's the story behind Edgewater's troubles". North Jersey Media Group.
  7. ↑ An Inquiry into Local Government Ethics and Integrity Issues in the Borough of Edgewater, New Jersey State Commission of Investigation, May 2023.
  8. ↑ Cattafi, Kristie. "Gold bars stolen 10 years ago in 'inside job' resurface in Sen. Menendez investigation", The Record , December 6, 2023. Accessed January 4, 2024. "Two gold bars that were stolen from Daibes in 2013 were found during an FBI search of Menendez's Englewood Cliffs home and photos of two other gold bars from the 2013 robbery were also found, while Nadine Menendez gave the other two gold bars to a jeweler to sell. The four bars had serial numbers linked to the robbery at the Daibes penthouse, NBC News first reported."
  9. ↑ Cattafi, Kristie. "Fred Daibes gets 3 years for fraud, to be served concurrently with 7-year bribery sentence". North Jersey Media Group. Retrieved 2025-03-14.
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