ED Magedson – Founder
International Sales Group ISG2875 Northeast 191 St. Suite 200 Aventura Miami, Florida United States of America
To whom it may concern,
On 29 th November 2006 I bought 3 hotel condo off plan in Trumpoceanclub in Panama . This was contracted through Mac Anthony reality, international (MRI) an estate agent Marbella Spain The price was;
Unit 2913 320 000 $ In contract50m2 ,floorplan48.87m2
Unit 3207 320 000 $ In contract 50m2 , floorplan 47,31 m2
Unit 2425 334 000 $ In contract 52 m2 , floorplan 51,26 m2 after 47.82 m2
In accordance with instruction from MacAnthony reality and the contract I paid 10% deposit 97,400$ to secure transaction.
I paid a further 10% of the purchase price in May 2007 and was told I would be able to resell the units at the end of summer 2007.
The resell of the units are exlusively held the Trump organisation in Panama and Miami brokers INTERNATIONAL SALES GROUP vice president Jack Studnicky he was presenting this project to me via MRI.
However , when I contacted them to ask resell I was told I could not until 85% of the tower has been complete or I would loose all deposit I had previously given.
I was deeply schocked as I had not been told this before nor was it mentioned in my contracts of purchase. I had no choice but to pay a further 5% in 2008.
I have now paid 25% of the purchase price in total 243 500 $ . The tower has not been completed and althought Trumoceanclub say they have my units to resell I have heard that they have had any intrest let alone a potential buyer.
They are now pressing me further funds whit threat that I will loose money I have paid together with units . I have deadline 01.03.2010
I have instructed two lawyers in Panama who both have taken their fees and not helped me .
May I also mentioned that the sizes and descriptions of the units do not combly with the details of my contract . I have received 10 m2 less than in contracts , Even my unit 2425 they changed smaller 2 times .
One lawyer initially said I had good case to recover all my funds with 6% intrest and cancel my contracts , alas he only asked more funds to fight his cause which produced no result.
I am my wits end as the recession as taken its toll and i do not have anymore funds to finalise the transaction . i feel mislead both Mac Anthony Reality and Jack Studnicky(ISG ) not mention lawyers in Panama. I fear I may loose everything . I write to you in the hope you can help me.
This report was posted on Ripoff Report on 01/28/2010 12:36 PM and is a permanent record located here: http://www.ripoffreport.com/reports/international-sales-group-isg/miami-florida-33180/international-sales-group-isg-jack-studnicky-vice-president-to-isg-they-set-me-up-off-pla-561314. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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