Thomas Kramer is the new name introduced to the already murky Pakistan landscape. Credit for his descent on the Pakistani real estate horizon goes to Bahria Town’s Malik Riaz.
He was shown as the big star behind a $ 20 billion dollar investment to develop the Bondo Island 3.5 off the Karachi coast. He is supposed to build the world’s tallest building among an array of glitzy projects that will dwarf Dubai, Macau, Singapore or even Miami. He was brought here in mysterious circumstances and whisked away without being introduced to the local media. Imagine a person comes here on the biggest ever project of the country’s history, building the world’s tallest building in Karachi, and is not even shown to the media. Only in Pakistan, you might say. The media was given a photograph of him signing what was told to be a $ 20 billion investment. Who is this person, many ask.
Thomas Kramer, better known as TK, is known to have lived a wild life. He is one of the most controversial figured on the eastern coast of the US. He is accused of, among other things, coercing his father-in-law to give him $145 million, molesting a 13-year old boy, raping women, fondling employees, maneuvering his way up through laws and officials. But that’s his personal life that he lived in another country. The important issue is that he is bringing billions of dollars, we are told.
But then his net worth, we are told, is $ 90 million. So what is going on here? Wikipedia describes him as the son of Frankfurt stockbroker Willi Kramer. He reputedly made his first stock trade by telephone at the age of 14. We are told that he lied about going to Harvard College.
Thomas Kramer originally came to prominence by correctly predicting a sharp downturn in October 1987 and made approximately $30 million in stocks profit.
Afterward, he turned to the newly opened real estate market in the former East Germany, perceiving an attractive entry opportunity. A flurry of negative press regarding the risks drove investors away.
Malik Riaz never misses an opportunity to flaunt his religiosity. He is always shown as the benefactor of the Lal Masjid victims; somebody who sponsors Hajj for hundreds of people. He loves to talk about the conservative way of life that he likes to promote in his housing schemes. And then he brings in TK. Since they are about to change our lives, it may require a little investigation into this man.
This is how a US magazine describes TK’s adventures:
“This has been an eventful year for real estate tycoon Thomas Kramer: One multimillion-dollar land deal with the City of Miami Beach -- and two sordid stories of alleged sexual assault
Thomas Kramer’s background is not that of an ethical, upright citizen…
The tall, lanky German is hardly a stranger to controversy. Ever since he moved to Miami in late 1991 “and spent, according to von Hanau, more than $100 million for 45 acres of South Beach real estate” he has been in the public eye, often under embarrassing circumstances. “Tycoon Thomas,” a December 1992 New Times cover story, and several shorter follow-ups have chronicled Kramer’s often outrageous antics.
Two things clearly stand in the case of TK. He is a genius with investments but always with lots of controversy. Secondly, he is definitely not in the league of billionaires as he is being painted here. Finally, the man lives the kind of life that will be very difficult for Malik Riaz to defend.