(Mis)-Represenations

A very interesting document provided from one of our readers:

http://sunvillagefacts.com/files/Readers/NWSProductMemo.pdf

Certain points to outline:

Impact  and clients were promised (again) a finalized Juan Dolio project by end of September 2008.

At the Miami Court Elliott blamed the lawsuit for not finishing the project. The lawsuit was launched in March 2009.


April 21, 2008 to September 21, 2008- finalize the Maxim 
Bungalows Juan Dolio through these two specific Elliott 
products

Elliott also blamed Impact for this representation. But the sales force just sold what they were told by the product provider:


 Enjoyed Fifty Percent Developer Financing with principal and interest payments being waived until the project opens in the summer of 2008. Equating to interest free (8.00%per annum) borrowing and the “Networth Feature”

Investors are still blaming sales people for their "misrepresentations and lies" to their clients. They blame the sales people for telling clients WHAT THEY WERE TOLD BY THE PRODUCT PROVIDER (ELLIOTT)!

After the Sun Village failure became public in March 2009 and the sales people distanced themselves from Elliott, certain investors still believed their lies and blaming tactics and even testified at the Miami court in their (Elliott's) favor.