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Last updated - January 28, 2026
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Ben Shaoul is a New York real-estate developer and president of Magnum Real Estate Group, known for acquiring and converting Manhattan buildings into luxury units. He has made headlines for cryptocurrency-based property transactions, including a multimillion-dollar sale in bitcoin. His record includes notable controversy, including a lawsuit filed by his parents alleging financial misconduct, which he denied.
President
High Risk
Based on the available data, we advise consumers to avoid this Individual altogether.
This advisory is based on an aggregate risk score derived from OSINT, Adverse Media, Reviews, and Risk Factors identified in our research.
You are likely to be at great risk by engaging in any sort of consumer-related activity with this entity.
Medium Risk
Based on the available data, we advise employees to be mindful when considering or continuing work with this Individual.
This advisory stems from a medium-risk score compiled from OSINT, Adverse Media, Reviews, and Risk Factors uncovered in our analysis.
Employment with this entity may involve moderate risks.
Based on the available data, we urge investors and bankers to avoid financial involvement with this Individual.
This advisory is informed by an aggregate risk score based on OSINT, Adverse Media, Reviews, and Risk Factors identified through our investigation.
Engaging in investment or lending activities with this entity poses a substantial risk to your financial interests.
Safe to Onboard
Enhanced Due Diligence required
Do Not Onboard
Monitor adverse media every 6 months
File SAR (Suspicious Activity Report) is warranted
Escalation to compliance committee
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First Property Purchase
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Portfolio Value (peak)
Units on Market (at one point)
Crypto Transaction
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His projects have drawn criticism for aggressive renovations and reducing rent-regulated housing in Manhattan.
Tenant advocates and preservation groups have publicly challenged several of his redevelopment projects.
A high-profile lawsuit filed by his parents accused him of financial misconduct, later resolved out of court.
He is often viewed as an aggressive dealmaker with a fast-moving, high-pressure development style.
Coverage has frequently described his methods as forceful, highlighting rapid turnover of older buildings.
Public reporting has noted complaints during conversions of buildings with long-term regulated tenants.
Regulatory and Compliance Screening
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Reputational and Adverse Media Risks
Geographic and Jurisdictional Risk
What you see here scratches the surface
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The article details a lawsuit filed by Ben Shaoul’s parents accusing him of fraud and theft involving jointly owned real-estate funds.
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Real Estate Tycoon Sells New York Property for $15.3 Million in Bitcoin
Developer Ben Shaoul linked to allegations highlighted in a cyber-risk profiling report.
Other Red-Flags and Adverse News
Based on user engagement on this review profile, ProConsumer will decide to publish its Risk Audit report for public if a threshold engagement, traffic and user input is achieved.
Known Assets: [Real estate, investments, companies]
Suspicious Transactions
Liabilities: [Bankruptcies, defaults, debts]
Wealth Sources: [Legitimate / Unclear / High-risk]
Bank Relationships
Ultimate Beneficial Owner(s) (UBOs)
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Associated entities & subsidiaries
Offshore / shell company links
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Business Model Assessment
All comments are user-generated content and may not be verified. They represent the personal opinions of the public and should not be relied upon. These comments do not influence or determine our overall rating.
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Highly experienced
Well-recognized name
Faced allegations of scamming others
Allegedly sold fake silver
Sued multiple times
Unregulated industry
Alarming number of complaints online
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Shaoul’s developments have drawn controversy, including tenant grievances and disputes over renovation practices, which have been reported in media and industry forums.
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Benjamin “Ben” Shaoul is a New York‑based real‑estate developer and President of Magnum Real Estate Group, recognized for acquiring and converting residential properties in Manhattan into high‑end condominiums.
Dude sold a property in bitcoin for millions? That’s legend status in crypto circles, fr.
As someone who follows NYC real estate closely, Ben Shaoul comes across as a very sharp and aggressive developer who clearly knows how to scale fast and play at a high level. You don’t build a massive Manhattan portfolio without serious business instincts and risk tolerance. That said, the pattern of tenant disputes, legal noise, and the overall “hardball” reputation makes it hard to see him as just a neutral businessman. The crypto property sale was innovative and bold, but innovation doesn’t cancel out ethical concerns. From the outside, it feels like someone who prioritizes growth and leverage over community impact. Impressive career, yes — but also the kind of figure that raises questions about how that success was achieved and who pays the price for it.
Bruh this guy’s real-estate flex is insane — but that ‘Medium Risk’ tag is kinda sus ngl.
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