Nir Meir New Bail Hearing Set

A court date Friday morning for Nir Meir’s criminal fraud case left more questions than answers as to why the former HFZ Capital executive was ordered back to Rikers Island last week after he had been released on bail.

Meir, who was arrested in early 2024 on charges related to a $86 million fraud scheme, spent more than a year waiting in jail before he was released on a $1 million bond in April and placed on 24-hour home confinement with two ankle monitors. 

But in a surprising twist, Judge Ann Thompson last Friday ordered 50-year-old Meir back to Rikers with a $5 million cash bail, without any public explanation. 

He was scheduled to appear in court Friday morning along with his new attorney, Matthew Galluzzo. But when it came time for the two and Manhattan Assistant District Attorney Chris Beard to go before Thompson, the judge ordered members of the public in attendance to clear the courtroom and wait outside in the hall.

The courtroom remained locked for about 15 minutes. Afterward, Galluzzo and Beard walked out and declined to comment on what happened behind closed doors. 

A spokesperson for Manhattan District Attorney Alvin Bragg’s office said the hearing was adjourned until June 2 for a bail application. At that time, Meir’s new attorney could have a chance to reargue Meir’s bail and his release from America’s most notorious jail. 

People familiar with the case said it’s unusual for a judge to close a courtroom to the public, and said it may hint at sensitive talks going on behind the scenes between Meir’s side and the District Attorney’s office. Judge Thompson had also recently placed a transcript of a previous hearing under seal.

A representative from New York Attorney General Letitia James’ office was in the courtroom and waited outside during the closed-door conference. James’ office has not brought any charges against Meir.

Prosecutors allege Meir was the mastermind of a fraud scheme that involved taking money out of accounts designated for HFZ Capital Group projects, resulting in shortfalls. At the center of the allegations is the XI condo project on Manhattan’s High Line. The D.A.’s office also alleges Meir defrauded the city out of $15 million in taxes. 

Meir has pleaded not guilty.

Read more

Judge orders Nir Meir back to Rikers

Behind the unraveling of Nir Meir