A group of investors who purchased property in the Trump International Hotel & Tower Las Vegas are filing a lawsuit against the company to get their money back. The group of hotel- condo buyers have alleged that Trump Ruffin Tower I LLC, a company that lists billionaire Donald Trump as its managing member, defrauded them by selling them condos that were promised to them at a different size but were as much as 100 square feet short of the original dimensions.
The eight investors are seeking class action status for their lawsuit which was filed in a District Court and will soon be heard by a federal judge.
The investors also allege that they were lured into buying the units based on securities violations, a lack of disclosure and fraud.
Enticed by talk of high-yield returns on the rental units that would cover mortgage payments and other costs associated with buying the property, the group was sold the property on its rental-income potential, stated Ricardo Ehmann, attorney representing the plaintiffs. In addition to this the investors were not informed of the risks involved in purchasing the property as required by federal law.
To learn more about the case read Valerie Miller's article on www.lvbusinessexpress.com
The eight investors are seeking class action status for their lawsuit which was filed in a District Court and will soon be heard by a federal judge.
The investors also allege that they were lured into buying the units based on securities violations, a lack of disclosure and fraud.
Enticed by talk of high-yield returns on the rental units that would cover mortgage payments and other costs associated with buying the property, the group was sold the property on its rental-income potential, stated Ricardo Ehmann, attorney representing the plaintiffs. In addition to this the investors were not informed of the risks involved in purchasing the property as required by federal law.
To learn more about the case read Valerie Miller's article on www.lvbusinessexpress.com
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