Bruce Elieff

Bruce Elieff is the CEO and Chairman of SunCal Companies, a prominent real estate development firm based in Irvine, California.12 Here are some key details about Bruce Elieff and his career:

Professional Background

Bruce Elieff has been at the helm of SunCal Companies for many years, leading the company through significant growth and challenges. Under his leadership, SunCal became one of the largest landowners in the Western United States, with assets valued at approximately $4 billion during the real estate boom.1

Company Overview

SunCal Companies is described as "one of the nation's largest real estate development companies".3 The firm specializes in large residential developments, particularly in California. Some notable projects in their portfolio include:

• The Fairways: A 3,300-home project surrounding the Morongo Golf Club in Beaumont, Riverside County
• Oak Knoll: A 183-acre residential project in the Oakland Hills

Financial Challenges

Despite SunCal's success, the company and Bruce Elieff have faced significant financial challenges:

• The 2008 financial crisis and the collapse of Lehman Brothers, SunCal's largest lender, severely impacted the company.13
• SunCal's workforce decreased from about 500 to 100 employees, and several divisions were closed.1
• The company has been involved in bankruptcy court battles with the Lehman estate over multiple California land deals.1

Personal Financial Issues

Bruce Elieff has experienced personal financial difficulties:

• He filed for Chapter 11 bankruptcy in 2019, which was later converted to Chapter 7.3
• His bankruptcy estate is currently involved in a legal dispute with the Internal Revenue Service (IRS) over a tax bill totaling $84 million.3

Legal Matters

Elieff has been involved in various legal proceedings:

• He was sued by a former business partner, Todd Kurtin, resulting in a $20 million settlement ordered by a judge in 2017.3
• In 2014, Elieff filed a fraud lawsuit against an ex-girlfriend regarding $850,000 in funds.3

Despite these challenges, Bruce Elieff continues to lead SunCal Companies as its CEO and Chairman, navigating the complex landscape of real estate development and financial restructuring.