Miss Piggy wrote on October 17, 2008 06:07 PM: Is Michael Mckenzie that polyester-suit looking dude?

Otto E. Roticize wrote on October 17, 2008 03:02 PM: LMFAO @ Meridian Newbies! WTF nation leading condo developers HAHA G00D Fkn GAME NEXT.

VegasGurl wrote on October 04, 2008 03:52 AM: "She and her husband paid $300,000 cash down when they bought their $654,000 unit, which currently sits vacant."

Why on earth would they pay $654,000 for a condo conversion--in the dumpy Meridian no less--when there were many other newly constructed condos for sale like Panorama, Trump Towers, etc. Must have been the $$$$ in their eyes. If it sounds to good to be true, it usually is.

concerned wrote on October 01, 2008 07:54 AM: Hot off the press the saviors of the distressed Meridian Owners are here: Michael T. Mackenzie, Dan Somers, Konstantino Kouros and their puppets. The new game is fractional sales/tenants in common, and now they can sell the units all over again with multiple owners for each unit. With multiple owners you can jack the price up accordingly, therefore increasing the commissions to be paid to the saviors. Konstantino Kouros's new company can rescue you from foreclosure, and he is doing it for a mere pittance, and offering a discount off of the pittance...again in the guise of a Meridian distressed owner savior. What a God-send!, but remember things are not always as they seem. Let us take a look at the players:

Michael T. Mackenzie, Senior VP American Invsco Realty, who ran the Meridian HOA Board along with Michael Zink. They both apparently have very little regard for the law...I say this because they failed over & over again to follow the NRS; under their leadership an illegal overnight hotel rental program was run, Mackenzie flat out lied to the Owners about the legality of the program, on numerous occasions; for some reason the required by law yearly audited financial records were not done, and the required documents when AI transferred the HOA to the Owners is also missing; fiduciary responsibilities meant nothing to Mackenzie, which leads to his malfeasance; Mackenzie's interests were solely for himself and AI.

On 3/21/07, Dan Somers wrote a scathing letter, about the misdeeds of both AI & Mackenzie, to the owners of the Meridian. It was an expose' in the truest sense of the word. Though the facts have not changed...we now find Somers on the other side of the fence partners with Mackenzie - apparently GREED can certainly change ones's perspective.

flyonthewall wrote on September 30, 2008 06:01 AM: Maybe someone can explain how American Invsco (AI) was able to get favorable appraisals that allowed for CRS (another AI entity)to receive a check from the Title Company at closing which covered AI's special two year pay for just about everything program, as well as a hefty $15,000 per year management fee for each unit which participated in CRS's rental program? Any money collected for actual rentals went entirely to CRS/AI. Keep in mind the fact that AI failed to disclose where the money was coming from to finance their special incentive program to the buyers. I would be remiss not to mention that at closing a check was also cut to Koval Flamingo/AI for construction costs; who did these favorable appraisals for AI and why? How did some investors get away with putting no money down on their investment properties, and in some cases walked away with cash in their pockets? Can one say mortgage fraud: collusion between AI, the appraiser(s), the mortgage company, and the Title company.

What about the SEC violations for selling condominiums as investment properties without being registered with the SEC? Yes, if real property is sold in the wrong way it is considered a security and has to be registered as such. Ask AI's Real Estate expert Scott Oelke about his presentations to potential marks, which had nothing to do with buying a property to live in - everything to do with the economic benefits & the special incentive rental programs available.

What about the forging of documents which were sent to Fannie Mae & Freddie Mac? American Invsco hired temps and directed them to do their dirty deeds, and then let them go.

Invsco's dirty laundry list: mortgage fraud, fraud, SEC violations, money laundering, racketeering, numerous NRS violations, & running a scam.

napping wrote on September 29, 2008 10:58 PM: I guess no one told 'em vegas is teaming with crooks.

bobby wrote on September 29, 2008 09:12 PM: The sad thing is that its not the only place, other places have said they would rent it out for a monthy fee. You had these fools buying thinking it would be easy money so bo ho on buyer and realtors will pay for the wrong doing and which is still going on.

nick wrote on September 29, 2008 08:44 PM: 4k a month plus incentives, talk about a bad sales pitch,

these greedy people were setup by shady sales scammers,

the money they are after doesn't exist.

toss this lawsuit aside.

Native Nevadian wrote on September 29, 2008 08:14 PM: Apparently none of these 15 owners passed basic math or conducted any research on rental properties in the Valley.

Rentals in Vegas, tend to be cheap, compared to other areas of the country. So why they would think they could rent their box within a box out for a month a clear 4k, is beyond me.

Sorry I can't feel their pain at all.....

Whistle-blower wrote on September 29, 2008 05:53 PM: Why are Clark County Building Inspectors signing off on these ABORTIONS? ANYBODY?

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