MRI / fraud
In oct 04 we put a deposit of $70, 500 on a pre construction villa in orlando .This villa has not been built .Mri assured us the firm Platinum Properties led by its ceo David weiker was a reputable and established builders and our money was safe.Mri led us to believe they were acting for us as we visited one of there road shows in the Uk, they now say that they are a transactual broker who only introduce clients.Platinum properties have filed for banckrupcy chapter 11 and David weiker has been arrested for fraud but Mri who received 20% of our deposit for telling us we had to put down 20% depositon the on villa not 10% have retained there commission even though there closing directer Michael Ellis said they would only get payed when the contract closed.
We were also advised by there broker Russell Pierce to invest in acondo hotel called Lake Bueno Vista Resort Village and Spa he said we would not have to close on the property as he would sell on before it was built this again was not true we had to close on the property or lose our deposit. Mri received a commisson in excess of $30, 000 and refused to take any responcibillity for there brokers action or statements. Apparantly Russell Pierce was also arrested and convicted of fraud in an unrelated issue but we were advised he had just moved on.
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