Summer Camp Empire in Financial Freefall

Brothers David and Michael Shabsels, owners of major summer camps like Camp Blue Star and Mohawk Day Camp, are facing a financial meltdown after raising $195 million via Israeli bonds — only to stop paying bondholders. Before defaulting, they secretly moved $34 million to shell companies they control, promising to return it but then claiming they couldn’t. The fallout: their bonds were downgraded to junk status and trading halted. With camps serving religious families and collateral tied to 13 properties — which the Israeli press calls “unusual” — legal battles over alleged hostile takeovers and missing financial records are heating up. Investors face asset seizures, while camp families wonder how this chaos affects their kids’ summers. The situation is messy, unfolding fast. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/8537246cc7c1f7b8