A commercial property investment project defrauded elderly investors due to shell entity lessors that couldn’t maintain payments, participating investors allege.
Millcreek Commercial Properties LLC, along with affiliated individuals and entities, sold tenant-in-common interests in commercial real estate that purportedly had long-term leases in place to generate a revenue stream, Roger Wilson and 10 other investors say. They filed their complaint Thursday in the US District Court for the District of Utah.
“The lease terms were in fact so extravagant that it was clear to Defendants from the outset that the lease terms could not be met,” the investors say.
“In ...
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