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Lawsuits filed in the wake of construction failure

Buying property to develop it into a home is something that many people dream about. For many Floridians, that kind of dream can and does become a reality. For others, unfortunately, construction projects turn into a nightmare.

Recently, several lawsuits were filed by investors who claim they were lied to and swindled out of tens of thousands of dollars by parties claiming to be building model homes in an exotic location. The reality, according to the lawsuits, was that nearly 10 years later, the homes have yet to be built, and much of the money they paid is gone.

There are numerous parties being accused of misconduct, and several different allegations being made. The founders and directors of the project have been accused of stealing investor money, using false images and claims to sell property and engaging in offshore corporation misconduct. Numerous corporations who have taken control of the property over the years have been accused of mismanagement.

Millions of dollars have apparently been paid for the development, which promised high-end housing in a planned community near waterfalls, the ocean and a golf course.

However, investors have yet to see that money used in developing the land, which is actually more than two miles from the a murky river and has yet to be equipped with electricity. 

People are understandably angry that their money has been taken and misused. Sadly, in some cases, people who invested hard-heard money years ago with the hopes of retiring in the community have since passed away. Others have suffered incredible financial hardships as a result of paying for a construction project that has not happened.

It will be interesting to see how the lawsuits are resolved. In the meantime, the Miami Herald has reported that plans are still in place to continue building the property.

This case might serve as cautionary tale to any Florida residents looking to buy land or homes in an area they haven't seen yet. Before you sign anything or give anyone a check, it is critical that you first consult an attorney who can examine the contracts, sales agreements and promises being made by developers or sellers. Doing so could save you from falling victim to empty promises and potential fraud.

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