Colombian Hotel Developer Seeks Out Of $5.4M Fraud Suit

Law360 (December 10, 2019, 2:22 PM EST) -- The developers of a Colombian luxury hotel are asking a New York federal judge to toss their investor's suit accusing them of stealing $5.4 million in funds for a project that never materialized, saying the suit was filed too late.

Seagrape Investors LLC, headed by Edward Mullen, alleges that the millions of dollars it put into the Convento Obra Pia Hotel & Resort development in Cartagena, Colombia, was misused by merchant bank KIT Digital Inc. and its principal, Kaleil Isaza Tuzman.

But Seagrape's claims should be dismissed, the developers said Monday, because the suit is a misguided attempt to "throw spaghetti...

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