High Executive Pay Amid Collapse: Despite its deteriorating finances, Chasen Companies paid founder Brandon Chasen over $21,000 biweekly (over $500,000 annually) and his top executives up to $9,600 per week, continuing until November 2024, well after lawsuits for unpaid bills began.

Massive Debt and Zero Assets: Bankruptcy filings reveal that Chasen Construction has over $39.5 million in liabilities and $0 in assets, including a bank account with a negative balance. Revenue plummeted from $77 million in 2023 to $0 in 2025.

Private Jet Transfer Raises Red Flags: Creditors are questioning the unreported March 2025 transfer of a $5 million company jet to a privacy trust, TVPX Aircraft Solutions, suspecting an attempt to shield it from bankruptcy proceedings.

Legal and Creditor Pressure Intensifies: Chasen Construction was forced into involuntary bankruptcy in April, and creditors—including Sandy Spring Bank (owed $28M)—are now pushing to force Brandon Chasen personally into bankruptcy to recover nearly $30 million.

Abandoned Projects and Public Scrutiny: With stalled developments and visible construction debris in key Baltimore locations, the collapse of Chasen Cos. has drawn scrutiny. A meeting of creditors is scheduled for August to investigate potential financial misconduct and examine executive compensation.

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