Bayrock Group is an international real estate development and investment company based in New York. It was founded by Kazakh businessman Tevfik Arif in 2001.
The Bayrock Group was founded in 2001 by Tevfik Arif, a former Soviet official from Kazakhstan who became an international businessman. He founded Bayrock after he moved some of his businesses to the United States.
Arif hired Russian businessman Felix Sater as managing director of Bayrock in 2003. Sater became Bayrock’s Chief Operating Officer, and assisted with several projects, including management of the Trump SoHo project. Sater left Bayrock in 2008 after a New York Times article revealed his criminal past. In 1998, Sater had pled guilty to stock racketeering and fraud as part of a US and Russian mafia-connected $40 million stock pump and dump scheme. He worked with the CIA and the FBI, allegedly offering information on a black market for Stinger missiles. Sater later worked as a senior advisor to Trump.
After moving the Bayrock Group to the 24th floor of Trump Tower, Arif developed a relationship with billionaire businessman Donald Trump. Bayrock went on to collaborate with The Trump Organization on projects in Turkey, Poland, Ukraine, Russia, Arizona, Colorado, New York, and Florida.