Thursday, July 31, 2008 | 11:23 a.m.
Here's an update on our recent program on the local high-rise market:
The Atlanta attorney representing some 400 owners of 300 units at Trump Las Vegas filed for arbitration Wednesday in Clark County, claiming prospective buyers didn't get what they were told to expect. The buyers also filed a complaint with the Real Estate Division of the Nevada Department of Business and Industry, claiming that Donald Trump obtained an unwarranted exemption from the state that violates consumer protection standards.
Attorney Ben Easterlin of King & Spalding LLP, says escrow deposits for his clients exceed $40 million.
Among the alleged misrepresentations made by Trump to buyers - that Trump Las Vegas is a 64-story tower, when it is only 56 floors.
Trump's local public relations firm referred me to Brian Baubreau, who they said would be handling media inquiries regarding the matter. I've left a message and hope to schedule an interview soon.
More Friday on In Business Las Vegas and from Easterlin when he appears Wednesday on Face to Face.
Read the arbitration filing and the complaint to the State Department of Business and Industry in the links to the right.
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