Jason Grosfeld

In Los Cabo’s East Cape, some luxurious structures have been built which include Costa Palmas, a luxury resort that is managed and owned by Los Angeles real estate firm Iron Gate. The resort is located in Costa Palmas, and existing homes range in price from $2.5 million to $250,000 for waterfront properties.

In-depth interviews with Jason Grosfeld, the company’s founder and chief executive officer of Iron Gate, in 2021 confirmed that the virus had an impact on the value of $1 billion in real property deals that took place in Costa Palmas. A large portion of Costa Palmas locals, however, are quick to say that Iron Gate is a modern-day Bernie Madoff, using the millions of euros it earns for luxury properties as part of a sophisticated Ponzi scheme to defraud or extort money from buyers of homes in order to increase Iron Gate’s profits.

Costa Palmas Brings A Claim:

Sources report that civil and criminal lawsuits are being initiated on behalf of Iron Gate and its Mexican subsidiaries in Mexico for racketeering and fraud, as well as conspiracy, extortion, and other illegal conducts, or have been filed by Iron Gate and some of its representatives. The two Costa Palmas home buyers have been able to file a lawsuit against Iron Gate and some of its representatives in the United States, and sources say that more legal proceedings are in the process of being developed. Numerous police departments from Mexico as well as the US as well as other authorities are investigating.

Jason Grosfeld Fraud – In the public filings of this year, they made in the case of Iron Gate in the federal courts of California two homebuyers in Costa Palmas, GS 1975 LLC TRG CP, LLC and GS 1975 LLC TRG CP, LLC, assert that the CEO and founder Jason Grosfeld as well as directors of marketing and development, David Waller and Michael Radovan as well as its general counsel Mitch Laufer, among others of luring prospective homebuyers with the promise of getting them to pay Iron gate and its affiliates hundreds of millions of dollars to build.

The lawsuit asserts it is alleged that Iron Gate misled clients by saying that houses would be constructed in just 18 months. However, they later used the money of homeowners for other reasons or to build other homes. In both cases, homeowners claim they’ve been billed with Iron Gate millions of dollars for homes in construction but haven’t moved into for many years.

Jason Grosfeld’s Online Reputation – Statements Regarding The Court Cases That Hurt:

Furthermore, it’s stated in lawsuits that Iron Gate and its agents threatened to declare insolvency on contracts or stop all construction if money due was not paid, which resulted in the extortion of thousands of dollars from plaintiffs. In both instances, the purchasers claim that when they attempted to defend themselves from the wrongdoings committed by Iron Gate, Iron Gate immediately retaliated by threatening the other Iron Gate affiliates to terminate their memberships and subscriptions to the important Costa Palmas Beach & Yacht Club.

Following Iron Gate’s requests, the case has been referred to an arbitration hearing in Mexico according to the state court records that belong to GS 1975 LLC. Iron Gate has reportedly been at the heart of arbitration proceedings in Mexico as per Steve Anderson, a representative for GS 1975 LLC. GS 1975 LLC is suing Iron Gate for more than $20 million in damages.

Jason Grosfeld’s Father:

We tried to get in touch with TRG CP, LLC. They did not respond. According to The Real Deal, Jason Grosfeld was an investor with a reputation in the firm that managed the assets of Black Rock, where James Grosfeld invested $94 million into stocks. James Grosfeld was the Pulte Group’s chairman and CEO from 1974 until the point at which he quit directorships because of disagreements within the company concerning corporate management. James Grosfeld held both positions for 16 years.
Based on the amount of homes Iron Gate has sold in Costa Palmas and the more than $1 billion in sales Iron Gate has made the homeowner’s complaint may not be the only step.

Final Judgments In The Case

The lawsuit asserts it was a case of Iron Gate making numerous untrue claims about the cost and timeframe to complete the construction process in order to secure the funds that amounted to hundreds of millions. The complaint states that after Iron Gate has invested over five million dollars from the plaintiff’s money, the building is just a concrete shell.

The allegations are akin to those presented in the lawsuit filed by GS 1975 LLC. Iron Gate is allegedly holding the plaintiff’s house hostage and is refusing to take action until the plaintiff pays millions more in the cost of the lawsuit. We have tried to reach TRG CP, LLC personnel to get clarification, but haven’t received any response.

Our sources suggest there could be a lot of other Costa Palmas home buyers with similar claims or experiences which suggests the possibility that Iron Gate and its representatives may be subject to additional legal actions. Additionally, we’ve been told the same thing about the Mexican as well as the American Federal authorities are looking into the situation.

InJason Grosfeld