Gilman Law LLP Files Lawsuit Against Ginn Development and Affiliates Alleging Massive Mortgage and Real Estate Fraud Througho...
March 15 2012 - 1:00PM
Marketwired
Gilman Law LLP announces it has filed a class action lawsuit
against Ginn alleging Bobby Ginn and other Defendants engaged in a
massive real estate and mortgage fraud involving fraudulent real
estate appraisals throughout Florida. The lawsuit names affiliates,
Ginn Development, Ginn Title, The Ginn Company, Ginn & Co.,
Lubert-Adler, LP, and other co-conspirators as Defendants. Yet
unnamed co-conspirators Wachovia, Sun Trust and Fifth Third Bank
are alleged to have assisted in property and membership sales based
upon artificially inflated prices and illusory comparable sales.
The complaint was filed March 12, 2012 in the Twentieth Judicial
Circuit Court, Collier County, Florida. (Thompson v. Ginn
Development, LLC, et al, Case No. 12-CA-931).
According to the lawsuit, the alleged fraud consisted of false
representations, deceptively created impressions of false values,
artificially created scarce supply of properties and memberships
and artificially high demand based upon fake illusory real estate
sales. The lawsuit accuses Defendants Lubert-Adler Partners and
Bobby Ginn of forming joint venture partnerships and defrauding
investors and purchasers at the following homes, land, and
resorts:
- Ginn-LA, Quail West, in Naples, Florida;
- Ginn-LA Pine Island;
- Ginn-LA Orlando;
- Hammock Beach and Yacht Harbor Village at Ginn-LA, in Palm
Coast, Florida;
- Hammock Beach Resort in Palm Coast, Florida;
- Hutchinson Island at Ginn-LA Hutchinson Island, Florida;
- Tesoro Preserve in Port St. Lucie, Florida;
- Reunion Resort in Orlando, Florida;
- Bella Collina in Montverde, Florida;
- Conservatory at Hammock Beach in Palm Coast, Florida.
"We are seeking to recover the losses of such persons and
entities related to the Ginn properties," stated Kenneth Gilman,
managing partner of Gilman Law LLP.
The class action complaint alleges that Defendants used mails
and wires to induce class members to purchase at fraudulently
inflated prices, violated the Florida Racketeer Influenced and
Corrupt Organizations Act ("Florida RICO"), and provided kickbacks
to Ginn employees and bank employees to sell and finance properties
at values artificially inflated from 2004 through 2009.
Free legal evaluations are available to Ginn purchasers or
investors by calling 1-888-252-0048 or visiting
Gilmanlawllp.com.
Gilman Law LLP, a national law firm with offices in Florida and
Massachusetts, has been protecting consumers for over 32 years.
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Contact: Gilman Law LLP Kenneth G. Gilman Email Contact
(239) 221-8301