Frank Sweeney
Las Vegas,#2REBUTTAL Individual responds
Wed, April 04, 2012
The report is completely false. Jean Marc has spent over 15 million dollars on the project. This includes infrastructure work, permitting, zoning, renderings, etc. He has borrowed money to pay the underlying 10 million dollar mortgage. Like a lot of larger companies, he has run into rough financial times. He has kept his lenders informed of the details and paid them when funds have become available. He had a commitment for a large loan from a company in Connecticut. All of the papers were signed and in fact JKG advanced $150,000.00 to this company as a loan commitment fee. Eventually after several months it was learned that the lender was a fraud, who is now serving time in a penitentiary in Connecticut. The failure of this loan caused Jean Marc to reach out to friends and family for help to pay the 10 million dollar mortgage. At that time, the payments on the mortgage were $200,000.00 per month. It remains Jean Marc's intention to repay any lenders in full. That is much better than many companies on the Las Vegas strip who have failed to repay their lenders but did not complete their projects!!!