Condo-hotel
investors in “David
and Goliath” battle with
MGM-Turnberry
Who
wouldn’t want to “own a piece” of
the Las Vegas strip?
Especially in partnership with
two big-name companies—the
MGM Grand hotel and casino operator, and Turnberry,
one of America’s premier real estate developers. It
seemed like a golden investment opportunity. And
it was—for MGM and Turnberry. But not for
the hundreds of small investors seduced into buying
units
in the gambling mecca’s first condo-hotel
project.
While the MGM-Turnberry giant reaps huge
profits the individual unit-owners are losing
thousands of dollars—month after month. And
they’re “not
going to take it any more.”
An ever-growing
number of them have banded together in a ground-breaking
lawsuit charging that MGM-Turnberry
fraudulently induced them to buy—as investment
securities—units at the property now
known as “The Signature at MGM Grand.”
This
is their story. It’s a story that is
already getting attention in local, national
and international
media including such prestigious publications
as the Wall Street Journal and the New
York Times.
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