Stefanos Kasselakis: The x-ray of his Asset Declaration–The $4 million portfolio, the real estate & the loans

Late last night and after a stormy meeting of the Political Secretariat of SYRIZA were released the Presidential candidates’ Asset Declarations, with the initial statement of the former President, Stefanos Kasselakis to garner the most interest among the party’s cadres, after what happened about the leak of data from it.

According to Mr. Kasselakis’ initial statement, which was for “use until 9/24/2023” when he took office, the former SYRIZA president has investment products, real estate, and small deposits in bank accounts. According to the statement of the Director of his Office, Manolis Kamsianakis, however, “Stefanos Kasselakis filed the declaration of assets and liabilities for the period up to 24/9/2023 (date of acquisition of the status of the President of SYRIZA), while all the other candidates filed or will file statements for the year 2021, given that the relevant platform for the electronic submission of the following years, is still closed for all persons liable.

“It should also be clarified that Tyler Macbeth, although he was not legally liable, as in September 2023 his marriage to Stefanos Kasselakis had not yet been celebrated, nevertheless he also submitted an initial tax return,” notes Mr. Kaminakis in yesterday’s statement, adding that “if requested by anyone with a legitimate interest, it will be presented with the risk of course to leak it illegally”.

In the initial Background Statement, the president of SYRIZA declares $1,678,594 for 2023, as well as $70,000 in rent. He also declares large amounts in mutual funds, over $4 million, based on a December 31 valuation last year.

A $4 million portfolio in 2023

Specifically, Mr. Kasselakis within 2023 (i.e. by 9/23) made purchases of mutual funds and other financial products worth more than $4 million. His portfolio includes, among others:

• 59,000 mutual fund units of Breakwave Dry Bulk Shipping with an acquisition value of $316,830 and a valuation on the day of filing the statement with the relevant House committee of $326,270
• 76,430.98 shares of Nuveen High Yield Municipal Bond Fund I with an acquisition value of $1,142,101 and a valuation of $1,052,454.54
• 171,117.61 mutual fund shares again of Nuveen High Yield Municipal Bond Fund I with an acquisition value of $2,649,960.83 and a valuation of $2,356,298.48
• 1 Cash and Money Balances note with a value of $14,634.1
• 1 unit of Closed and funds & Exchange traded products valued at $106,870

Conversely, it has low liquidity – specifically, two bank deposits, one in euros and the other in dollars, of around 26,000 each.

He also declares his known property holdings – the house in Spetses, the parental provision in Neo Kosmos, the 55-acre property in New York State with the villa available for rent and generating rental income – while he does not declare his residence in Kolonaki, as it was purchased in 2024.

His loan obligations to credit and banking institutions amount to about $1.65 million; he has a balance of $1,577,467.15 owed to Cross country mortgage and $78,926.05 owed to Miami automobile. He has two other smaller loans totaling about $6,000.

Also mentioned in the declaration of intent is the famous Osios LLC, based in Delaware, USA, with a capital of $500,000, through which he loaned SYRIZA in the 2023 celebrations – noting that it has been transferred. At the same time, it is reported that the company owns 0.4% of Tiptree Marine. This is the company that was run by Stefanos Kasselakis before he was fired in February 2023, shortly before he joined SYRIZA’s State election ticket.