Review updated:

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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  • Th
      Jun 05, 2009

    You bought in one of the most regulated real estate markets on the planet. And even if your troubles are in another country, you can register complaints. These people don’t play games, and will investigate. Everyone person on the planet who has a complaint with MRI should e mal these depts.

    Department of Business and Professional Regulation (DBPR)
    They govern lawyers, law firms and Real Estate companies and agents.
    Contact Us :: 1940 North Monroe Street, Tallahassee FL 32399 :
    Call.[protected] :: Customer Contact Center: 850.487.1395

    Florida Real Estate Commission (FREC) They set laws and rules for real estate companies, and take complains seriously.
    Thomas O' Bryant, Jr, Director
    Division of Real Estate
    400 West Robinson Street, N801
    Orlando, Fl 32801
    Phone: 850.487.1395
    Fax: 407.317.7245

    Both these organizations are powerful, and protect their names. Contact them and lodge complaints. National Association of Realtors Florida Association of Realtors

    Want more info? [protected]

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