Iron Gate’s CEO, Jason Grosfeld, is being accused of being threatened with a lawsuit. In a new lawsuit filed at California Superior Court against Irongate, Grosfeld, and other defendants claim that Irongate is again associated with fraud and has illegally extorted cash from their customers.
According to the currently pending Lawsuit, which was filed back in April, A holding company under the name GS 1975 LLC paid a $5 million cash installment to Irongate for 10 million for a Costa Palmas house that Irongate claimed would be completed in June 2019. The house was still to be constructed at the time of the time of this Lawsuit.
Irongate is accused of fabricating the project’s progress between April 2018 and September 2022. Irongate, for instance, told the plaintiff that the project had reached an important stage on September 7, 2022. The plaintiff later requested the addition of $1,575,000.
What Is The Exact Wording According To The Lawsuit?
In the Lawsuit, Irongate, which Jason Grosfeld is the owner of, was able to allow the plaintiff to tour the property after the extra amount was paid.
The plaintiff further declares that upon an examination, the house was not accessible. The construction was required to be completed, and the work performed by Irongate was to be more efficient and better efficient. A spokesperson of GS 1975 LLC, the company has also started criminal proceedings in Mexico in the case of Irongate, Grosfeld, and other Irongate representatives, including David Waller, Michael Radovan, and Mitch Laufer, as well as a civil arbitration proceeding for Irongate’s case. Irongate in Mexico.
The Four Seasons Resort and Residences Los Cabos, the Amanvari Resort and Residences and its beach and golf course, as well as a yacht club, are located in Costa Palmas, a 1,500-acre resort and residential enclave situated on the East Cape of Los Cabos, Mexico. Jason Grosfeld’s most recent property development, Costa Palmas, has been marketed for the past seven years to be the most current luxury home community for the rich and famous.
Jason Grosfeld has built and sold houses in Costa Palmas through his honest property company, Irongate, and has earned hundreds of dollars. It appears, however, that Irongate might be using the same business strategies that brought down his “Trump Ocean Resort,” an exclusive residential development Irongate was a part of in conjunction with Donald Trump to create in Baha, California, Mexico. This resulted from recent lawsuits filed by homeowners within Costa Palmas.
The Lawsuit that Iron Gate Commenced:
In a lawsuit filed by Irongate along with other defendants back in 2008, more than 100 plaintiffs accused Irongate was deceiving the plaintiffs about Trump’s involvement in Trump Ocean Resort. Trump Ocean Resort and doing other criminal acts, including stealing and receiving more than $30 million in buyer deposits. According to a Univision News and Columbia Journalism Investigations investigation, Jason Grosfeld and Irongate had misled customers for over two years by exaggerating the amount of units sold and claiming that Trump Ocean Resort was operating with permanent financing when actually it wasn’t.
Despite assurances from Irongate, they claimed that the project was on its way. The only thing left after the two-year period was just a vast pit and a few concrete slabs. Another result of the investigation by Univision is that one the Irongate’s lenders had discovered “a massive mismanagement of funds to cover overruns.” In Costa Palmas, it feels like the past is coming to an end.
Irongate is also under investigation as a result of fraud extortion and interference with rights under the contract by, at the very least, the other Costa Palmas homeowners. On January 27, 2023, the TRG Corporation filed a complaint at the U.S. Court in California concerning Irongate, David Waller, and Mitch Laufer, claiming that they unlawfully forced an individual plaintiff into signing an Estoppel Certificate in connection with the construction of a home located within Costa Palmas and engaged in the practice of extortion, or tried to get the plaintiff to pay millions of dollars that the plaintiff was not willing to make.
More Information on the Lawsuit Concerns Jason Grosfeld, The CEO of Iron Gate:
The Lawsuit claims that Irongate repeatedly deceived the date and price of the building of the house in order to obtain thousands of dollars. The suit also asserts that the home is a concrete shell that is not finished after it took almost five million dollars of the plaintiff’s money—similar allegations to the allegations that GS 1975 LLC makes. In the Lawsuit, Irongate holds the plaintiff’s house hostage and will not undertake repairs to the house until it is clear that the owner is able to make payments to Irongate many thousands of dollars in additional costs. The TRG CP LLC’s representatives were contacted to provide comments; however, we haven’t received a response.
Our sources suggest there could be many other Costa Palmas homebuyers with similar stories or experiences since further legal actions against Irongate, as well as its respective representatives, may be taken. We’ve also learned that federal government officials in Mexico, as well as in the United States, are investigating the issue.