Family drama. One month after real estate developer Mohamed Hadid was ordered to tear down his $100 million Bel Air mansion due to safety concerns, neighbors allege that Gigi and Bella Hadid’s dad is committing bankruptcy fraud by removing valuables from the property.
The real estate developer’s 901 Strada LLC declared bankruptcy on November 27, a move that, while stressful, Gigi and Bella are relieved about. “[They] know that the filing caused a lot of stress but are happy it’s settled,” a source exclusively reveals in the new issue of Us Weekly.
The neighbors suspect the tycoon, 71, will try to avoid paying for the mansion’s $5 million demolition, which he’s said he can’t afford, and therefore the responsibility would fall on local taxpayers. However, Hadid’s lawyer denies any wrongdoing.
For more on the Hadid scandal, watch the video above, and pick up the new issue of Us Weekly, on newsstands now.
With reporting by Brody Brown
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