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December 4, 2009

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LV developer sued by condo investors

Tuesday, Aug. 29, 2000 | 11:13 a.m.

A couple wants a Las Vegas condominium project placed in a constructive trust, alleging the project's owners misused the couple's investment funds.

Stanton and Barbara Jean Jones, the owners of L.M.S. Co., sued Eric and Eileen Horn, owners of the Chapel Cove condominium project and the Horn Co., alleging Eric Horn induced the Jones to invest in Chapel Cove when the project's construction was stalled allegedly because of a lack of capital.

The suit, which said the project was hampered by management and fiscal difficulties including delinquent tax bills, said a tax sale was forced on an essential part of the project, the common area.

The Jones, who said they thought they had given the funds for the repurchase of the common area for Chapel Cove, said the Horns used the funds instead to buy that parcel as their own personal property.

The Horns could not be reached for comment.

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