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The trendy Hard Rock Hotel San Diego at the entrance of the Gaslamp District, and one block from Petco Park, was sued today (Tuesday Dec. 8) for fraud. The hotel is said to have been the first hotel condo in San Diego. Investors bought suites and had the right to occupy them for a maximum of 28 days a year. For the rest of the year, they would be occupied by others. Plaintiffs Tamer Salameh and Real Estate 4 Hospitality LLC claim they have lost a bundle of money on their investments. The suit will attempt to become a class action. Defendants include Irvine's Tarsadia Hotel, officials Tushar and B.U. Patel, and 5th Rock LLC. The suit charges that the investments were not registered with either the Securities and Exchange Commission or the California Department of Corporations. Promoters allegedly used bait and switch techniques in selling the investments.Plaintiff attorney Mia Severson says that investors were told the rental program was not mandatory, but it was. It was not feasible for investors to operate their own rental management system, as they were promised, the suit says. I could not reach the company for comment.
The trendy Hard Rock Hotel San Diego at the entrance of the Gaslamp District, and one block from Petco Park, was sued today (Tuesday Dec. 8) for fraud. The hotel is said to have been the first hotel condo in San Diego. Investors bought suites and had the right to occupy them for a maximum of 28 days a year. For the rest of the year, they would be occupied by others. Plaintiffs Tamer Salameh and Real Estate 4 Hospitality LLC claim they have lost a bundle of money on their investments. The suit will attempt to become a class action. Defendants include Irvine's Tarsadia Hotel, officials Tushar and B.U. Patel, and 5th Rock LLC. The suit charges that the investments were not registered with either the Securities and Exchange Commission or the California Department of Corporations. Promoters allegedly used bait and switch techniques in selling the investments.Plaintiff attorney Mia Severson says that investors were told the rental program was not mandatory, but it was. It was not feasible for investors to operate their own rental management system, as they were promised, the suit says. I could not reach the company for comment.