A Sarasota, Fla. jury took only a few hours to decide David Band did not defraud his partner in a Cruz Bay waterfront condominium project, the Sarasota Herald Tribune reported. (Read the full story here.)
The attorney/developer was accused of defrauding Harold Libby, a long time friend and associate who argued Band, as his personal attorney, had a duty to warn him of the riskiness of the Grande Bay project.
The jury found that Libby received multiple documents relating to the riskiness of the project and had signed them, later arguing that he hadn't read them.
The still unfinished project continues to grapple with challenges of the economy. Few condo units have been purchased and there are reports that some of the units will now be offered as timeshare units.
Wow. Dude got screwed.
I don’t wish harm on anyone, but think about how perfect it would be if a perfect storm were to hit STJ and somehow uproot Grande Mistake and take it to sea.
So what exactly is the deal? Do the current owners even pay any condo fees? Did the place do well this past high season? Was it full? Anyone out there know.
I’m a private owner at GB. We’ve had a very good season this year as far as occupancy, and I know a number of other owners have done very well also. The response from guests has been overwhelmingly positive – the place is really nice now that the pool and welcome building are finished, and visitors love the convenience of being in town. We’re all hoping to put our differences with the original Bay Isles crew behind us so we can work together to make the most of our fantastic location, which can only be a good thing for Cruz Bay and St John.