Jason Grosfeld: Iron Gate Working Against Legal Action

Jason Grosfeld, the chief executive officer for Iron Gate, is being accused of being sued. Grosfeld along with other defendants claim the Iron Gate has once again committed fraud and improperly gotten money from customers in a fresh suit against the company that was filed in the California Superior Court.

Jason Grosfeld

In April of 2018, GS 1975 LLC, the holding company, gave Iron Gate a $5 million payment for a deposit of 10 million Costa Palmas home that Iron Gate claimed it would complete in June of 2019. The home, however, wasn't yet completed at the time.

Iron Gate is charged with deceiving the court regarding the progress of the project between April 2018 between September 2022 and April 2018, including by telling the plaintiff that the project had passed a crucial milestone on the 6th of September 2022. Iron Gate then demanded an additional $1,575,000.

What Is Said Precisely In The Lawsuit?

Jason Grosfeld, the owner of Iron Gate, allegedly refused to let Plaintiff visit the house in the event that additional funds weren't paid.

Additionally, the plaintiff argues that after a thorough examination the property was inaccessible and the construction was not complete and the work of Iron Gate was poor and ineffective. A representative from GS 1975 LLC stated that the company has also initiated arbitration proceedings in civil court with Iron Gate in Mexico as and criminal cases for Iron Gate, Grosfeld, and other Iron Gate representatives, including David Waller, Michael Radovan along Mitch Laufer.

Inn & Residences located at Four Seasons Costa Palmas, a 1,500-acre resort and residential community situated on the East Cape of Los Cabos, Mexico, is home to Los Cabos, the Amanvari Resort & Residences, and also has its own Beach, a golf course as well as a yacht club. Since 2006, Costa Palmas, the most recent luxury housing development created by Jason Grosfeld, has been advertised as the latest exclusive area for the rich and famous.

Real Estate Company Iron Gate:

In his Real Estate business Iron Gate, Jason Grosfeld developed and sold properties located in Costa Palmas, making hundreds of millions. Iron Gate cooperated with Donald Trump to create"Trump Ocean Resort, "Trump Ocean Resort," an elite residential property located in Baha the state of California in Mexico. However, it seems the Iron Gate may be employing the same strategies for business that caused the destruction of the project. Based on recent legal actions by a variety of Costa Palmas owners.

Prior Legal Action Taken Against Iron Gate:

Over a hundred plaintiffs claimed in the 2008 lawsuit brought against Iron Gate and others that Iron Gate had misled them regarding the involvement of Donald Trump in his involvement with the Trump Ocean Resort and had committed other wrongful acts by taking and stealing the sum of more than 30 million worth of buyer's deposits. A probe conducted by Univision News and Columbia Journalism Investigations discovered the following: Iron Gate and Jason Grosfeld misled customers for 2 years by massively inflating the number of units sold, and also by claiming that the project's financing was long-term, even though it wasn't.

The case is in Federal Court in California:

Iron Gate's claim that construction was progressing in the past, two years later all left was a large hole and a couple of concrete slabs. Another finding discovered by Univision's study included the fact that a member of Iron Gate's lenders found "a massive misuse of deposits used to cover overruns." The past is returning to full circle in Costa Palmas.

At the very least, one other Costa Palmas property owner has also brought a suit against Iron Gate for breach of contract, fraud, or extortion. On the 27th of January, 2023 TRG CP LLC filed a lawsuit before a federal judge which is located in California in the case of Iron Gate, David Waller as well as Mitch Laufer. The suit claimed that the defendants had illegally required the plaintiff to submit an estoppel certificate as part of the building of a house situated in Costa Palmas and had engaged in extortion, or attempted to extort in order to make the plaintiff be paid millions, which the plaintiff was never willing to pay.

Additional Information On The Legal Difficulties Of Jason Grosfeld, The CEO Of Iron Gate

To secure millions of dollars worth of cash The complaint alleges it was the case that Iron Gate continually made false assurances regarding the price and timeframe for the completion of the construction of the property. In addition, it claims that after receiving around 5 million from the complainant the house has become a deteriorating concrete structure. Similar to the allegations that were made by GS 1975 LLC. Iron Gate is allegedly holding the plaintiff's house hostage and is preventing further work from being carried out on the property until the plaintiff is willing to pay thousands of dollars worth in additional costs, as per the lawsuit. We tried contacting TRG CP LLC for comments, but we were not able to get a response.

According to our sources, there could be a number of other Costa Palmas house buyers with similar stories or experiences, and they suggest that Iron Gate and its agents could be facing additional legal action. In addition, we've heard the same thing: Mexican as well as American Federal officials are examining this matter.