Costa Palmas is a luxury resort that is managed by Los Angeles-based property firm Iron Gate. Costa Palmas is the resort’s zone of operation. The homes in Costa Palmas range from $2.5m to $250,000 for waterfront homes.
In 2021, numerous interviews 2021 with Jason Grosfeld who is Iron Gate’s chief executive officer and director of Iron Gate, confirmed that Iron Gate confirmed that the virus had affected 1 billion worth of real estate transactions that took place in Costa Palmas. Costa Palmas residents are quick to declare that Iron Gate, a modern-day Bernie Madoff, is using millions of euros derived from luxury properties to trick and deceive customers to make more profits from Iron Gate.
Costa Palmas Brings A Claim:
Sources say they are aware they know that Iron Gate, its Mexican subsidiaries, and the representatives of their subsidiaries have brought civil and criminal lawsuits across Mexico against them in connection with fraud racketeering, and conspiracy as well as extortion and other criminal actions. According to reports, the Two Costa Palmas homeowners have filed a lawsuit with The United States against Iron Gate and a few of its representatives. Legal proceedings are currently being prepared. Investigations are carried out by different police agencies across Mexico and the US as well as other authorities.
Jason Grosfeld Fraud:
Jason Grosfeld fraud in public filings this year, in the case which is Iron Gate before federal courts of California two homeowners from Costa Palmas. GS 1975 LLC TRG CP and GS 1975, LLC TRG CP claim that the CEO, along with the founding member Jason Grosfeld, as well directors of development, marketing and Michael Radovan, as well its general counsel Mitch Laufer of luring potential buyers to purchase houses by promising them a lot of money to build
In the lawsuit, it is said that it’s claimed Iron Gate misled customers by saying that homes could be built in only 18 months. The money was used to fund other projects or build new homes. Iron Gate has billed homeowners millions of dollars for houses that were under construction but which they’d not lived in for a long time.
Jason Grosfeld’s Online Reputation: Statements on the Court Cases that Affect:
Furthermore, lawsuits state that plaintiffs were informed by Iron Gate, its agents, and employees threatened to insolvent over contracts or to stop construction if the money was not paid. This resulted in the extortion of a number of dollars of plaintiffs. Plaintiffs in both cases claim the following: Iron Gate retaliated immediately when they tried to shield their own interests from wrongdoings perpetrated by Iron Gate by threatening to stop the subscriptions and memberships to The Costa Palmas Beach & Yacht Club.
According to the files of state courts that belong to GS 1975 LLC, Iron Gate requested that the case be submitted to arbitral proceedings in Mexico. Steve Anderson, a GS 1975 LLC representative, says that Iron Gate was at the center of arbitration proceedings in Mexico. GS 1975 LLC has filed an action against Iron Gate seeking more than $20 million in damages.
Jason Grosfeld’s father:
TRG CP, LLC did not respond to our attempts to contact TRG CP, LLC. We tried to get in touch with TRG CP, LLC. They didn’t respond. They did not respond. Real Deal reports that Jason Grosfeld‘s father, James Grosfeld was a prominent investor in Black Rock. Black Rock firm where James Grosfeld was a shareholder of $94 million worth of stock. James Grosfeld served as the Pulte Group CEO and Chairman from 1974 until his resignation from his directorships owing to conflicts with the company about the management of the company. James Grosfeld was in both positions for a total of 16 years.
Final Judgments in the Case
Iron Gate made numerous false assertions about the time and cost required to finish the construction to obtain funds of millions of dollars. Iron Gate invested more than five million dollars out of the plaintiff’s money, but the structure was just incomplete concrete.
Similar allegations to those that were included in the lawsuit that was filed in the lawsuit filed by GS 1975 LLC. Iron Gate allegedly holds the plaintiff’s home hostage and refuses to let it go until the plaintiff can pay millions of dollars in addition to the costs of settling the suit. We tried to contact TRG CP LLC to ask for clarification however, we have not received a response.
According to our source, there may be a number of other Costa Palmas buyers who have similar experiences or claims. This suggests that Iron Gate and/or its representatives could face additional legal action. We’ve also heard that authorities of authorities from Mexican Federal Authorities as well as American Federal Authorities are investigating the situation.
Source: Freep Sports 247