The Orlando Sentinel reported on October 5, 2007, that a class action lawsuit has been filed against Bobby Ginn by nearly 100 Michigan investors for tricking them into buying over priced lots in Ginn Developments that included Bella Collina and Reunion Resort in SW Orlando.
The plantiffs allege that the company promised big returns that never materialized from flipping the lots in a few months time. They also claim that Ginn perpetuated a ponzi scheme where returns to investors were not through the success of the underlying business but rather taken from newly attracted investors.
Most local real estate professionals would agree that Ginn sales associates did pitch the potential for quick profits from flipping in their resorts quite a bit. Whether or not it was a misrepresentation is up for the courts to decide.
A post about the misrepresentation of Lake Apopka at Bella Collina was made on this blog in September that may be worth checking out as well.
About Reunion Resort & Bella Collina