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Village of Penland & Peerless
Parry Deering Futscher & Sparks, P.S.C., represents a group of
investors in the Village of Penland project in Spruce Pine, North
Carolina.
The Village of Penland is a failed investment scheme. In
early June 2006, the North Carolina Attorney General filed suit
against some of the parties involved in the scheme. The Attorney
General described the scheme:
While marketing the Village of
Penland to consumers over a period of three or more years, defendant
developers set up several different limited liability companies and
marketed the property to consumer “investors” through several
different sales plans. However, the common thread in all of the
sales plans was that through a promise that the consumers would
profit from the venture without ever investing any of their own
money, defendants enticed the consumers to use the consumers’ own
credit to purchase lots. Consumers were told that they could only
purchase the property by credit transactions and could not pay cash
for the lots.
The Attorney General further alleged that the defendants were
engaged in unfair and deceptive business practices in the State of
North Carolina.
There are a number of individuals and limited
liability companies named in the Attorney General's complaint.
They include:
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PEERLESS REAL ESTATE
SERVICES, INC.,
VILLAGE OF PENLAND, L.L.C.
MFSL LANDHOLDINGS, L.L.C.
COMMUNITIES OF PENLAND, L.L.C.
COP LAND HOLDINGS L.L.C.
WEST SIDE DEVELOPMENT, L.L.C.
ANTHONY PORTER
FRANK AMELUNG
RICHARD AMELUNG
A. GREG ANDERSON |
INVESTIGATION |
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If you are an investor at the village of Penland
or have information concerning the development, lenders or any of
these parties, please
contact us. |
Documents Available:
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