Jason Grosfeld

Iron Gate’s CEO, Jason Grosfeld, is being sued. In a new complaint filed in California Superior Court against Irongate, Grosfeld, and other defendants claim that Irongate has once more engaged in fraud and has wrongfully taken money from customers.

According to the current lawsuit, in April 2018, a holding company by the name of GS 1975 LLC paid a $5 million deposit to Irongate for a $10 million Costa Palmas house that Irongate promised would be finished by June 2019.  But by that time, the house had not been finished.

Irongate is accused of lying about the progress of the project between April 2018 and September 2022, including by notifying the plaintiff that the project had reached a significant milestone on September 6, 2022, and requesting an additional $1,575,000.

What Is Said Exactly According To The Lawsuit?

Jason Grosfeld Donald Trump – According to the lawsuit, Irongate, whom Jason Grosfeld is the owner of, refused to let the plaintiff see the house before the extra cash was paid.

In addition, the plaintiff claims that upon inspection, the house was uninhabitable, the construction was far from finished, and Irongate’s work was sub-par and flawed. According to a spokesman of GS 1975 LLC, the firm has also started criminal procedures in Mexico against Irongate, Grosfeld, and other Irongate representatives, including David Waller, Michael Radovan, and Mitch Laufer, as well as a civil arbitration process against Irongate in Mexico.

The Four Seasons Resort & Residences Los Cabos, the Amanvari Resort & Residences, as well as its own private beach, golf course, and yacht club are located in Costa Palmas, a 1,500-acre resort and residential enclave on the East Cape of Los Cabos, Mexico. Jason Grosfeld’s most recent luxury development project, Costa Palmas, has been promoted for the past six years as the newest premium home community for the famous and the wealthy.

Jason Grosfeld has built and sold residences in Costa Palmas through his real estate business Irongate, earning hundreds of millions of dollars. However, it looks like Irongate may be using the same business strategies that wrecked its “Trump Ocean Resort,” a luxury residential project that Irongate collaborated with Donald Trump to create in Baha California, Mexico. This is based on recent lawsuits brought by numerous homeowners in Costa Palmas.

Previous Lawsuit That Was Brought Against Iron Gate:

Jason Grosfeld Costa Palmas – In a lawsuit brought against Irongate and others in 2008, more than one hundred plaintiffs accused Irongate of deceiving them about Donald Trump’s involvement in the Trump Ocean Resort and of engaging in other wrongdoing by receiving and misusing more than $30 million in buyer’s deposits. According to a Univision News and Columbia Journalism Investigations investigation, Jason Grosfeld and Irongate misled customers for almost two years by greatly exaggerating the number of units sold and by claiming that the project had permanent financing when it actually did not.

Despite Irongate’s assurances that development was underway, all that remained after two years was a sizeable pit and a few slabs of concrete. An additional finding of Univision’s investigation was that one of Irongate’s lenders had identified “a massive misuse of deposits used to cover overruns.”  In Costa Palmas, it feels like the past is coming full circle.

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Irongate has also been sued for fraud, extortion, and interfering with crucial contractual rights by at least one additional Costa Palmas homeowner. On January 27, 2023, TRG CP, LLC filed a lawsuit in federal court in California against Irongate, David Waller, and Mitch Laufer, claiming that they wrongfully coerced the plaintiff into signing an Estoppel Certificate in connection with the building of a home in Costa Palmas and engaged in extortion or attempted extortion to force the plaintiff to pay millions of dollars that the plaintiff had never agreed to pay.

Further Details About The Lawsuit Issues Against Jason Grosfeld; The CEO Of Iron Gate:

This lawsuit claims that Irongate repeatedly made false promises about the costs and timing of completion of construction of the home to induce payments of millions of dollars and that after taking almost $5 million of the plaintiff’s money, the home is nothing more than a barren concrete shell. These allegations are similar to those made by GS 1975 LLC. According to the lawsuit, Irongate is holding the plaintiff’s house hostage and refusing to perform any further work on the property unless the plaintiff pays it millions of dollars in additional fees. TRG CP, LLC’s officials were contacted for comment, but we got no response.

Jason Grosfeld Donald Trump – According to our sources, there may be a large number of other Costa Palmas home buyers with comparable accounts or experiences, and additional legal actions against Irongate and its representatives may be taken. We have also been informed that this subject is being looked into by federal officials in both Mexico and the United States.

Source: https://cryptoarenanews.com/2023/09/07/jason-grosfeld/

By Jack