Chinese investors who put $10.5 million into the unfinished Las Olas Ocean Resort in exchange for EB-5 visas were tricked into contributing with loan term misrepresentations, according to a federal lawsuit.
The complaint filed Monday is the latest issue to plague the beachfront venture, which filed for bankruptcy protection. The plan was for a 12-story hotel with 136 rooms at 550 Seabreeze Blvd.