all three men were acquitted<\/a> of any wrongdoing. Now, perhaps understandably, they want more money after selling their investment for what they believe was $40 million undervalued.<\/p>\nWarranted Case?<\/b><\/h2>\n
FBT is also suing its former law firm, Davis, Malm & D’Agostine, for failing to properly understand Massachusetts’ gaming laws. The issue of Lightbody’s relationship with the investment group was later determined to be a moot point, as a convicted felon can actually profit off the sale of an asset to a casino company, as long as the felon doesn’t profit from actual gambling operations.<\/p>\n
Lawyers on both sides of the Wynn Boston Harbor debate admitted to wrongfully interpreting the gaming law. FBT says its poor legal representation cost the group $40 million.<\/p>\n
In its suit against the MGC, FBT lawyers say the real estate firm is seeking “the difference between the original option price ($75 million) and the price after removing the casino premium from the valuation ($35 million).<\/p>\n","protected":false},"excerpt":{"rendered":"
Wynn Boston Harbor, which is actually in Everett, Massachusetts, is being built on roughly 33 acres of land that Wynn Resorts bought for $35 million in 2013. The seller was FBT Everett Reality, a group of investors who had acquired the contaminated acreage just four years earlier for $8 million. In two lawsuits filed in […]<\/p>\n","protected":false},"author":42,"featured_media":64969,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,60,18],"tags":[],"acf":[],"yoast_head":"\n
Former Wynn Boston Harbor Land Owners Seek Additional $40 Million<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n