Chapters (57)
- Cover
- JONATHANKELLERMAN
- Table of Contents
- Dedication
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- Other Books by Jonathan Kellerman
- Copyright
- eBook Info
What I got was a rear-of-the-magazine piece entitled “Seeking the Good Life on Distant Shores: Americans Looking for Foreign Bargains Often Find Themselves on the Losing End.” The article recounted several real estate deals gone sour, among them a construction project down in Baja named Playa del Sol: high-end condos peddled to American retirees lured by American-style luxury living at Mexican prices. Two hundred units out of a planned four hundred fifty had been built and purchased. The first wave of retirees hadn’t yet moved in when the Mexican government invoked a fine-print provision of an obscure regulation, confiscated the land, and sold it to a Saudi Arabian consortium who turned the condos into a hotel. The Playa del Sol Company, Ltd., incorporated in the Cayman Islands, dissolved itself and its American subsidiary, Playa Enterprises, declared Chapter 11. The retirees lost their money.
No comment from the president of Playa Enterprises, Michael Larner.
Recalling the obscure business journal references that had come up on my first search for Larner—magazines not in the Research Library’s holdings—I looked for anything else I could find on the former Achievement House director and came across several other deals he’d put together during the past five years.
Larner’s specialty was real estate syndication—getting moneyed people together to buy out incomplete building projects that had run into trouble. High-rise apartments in Atlanta, defunct country clubs in Colorado and New Mexico, a ski lodge in Vermont, a golf course in Arizona. Once the deal was inked, Larner took his cut and walked away.
All the subsequent articles had the rah-rah tone of paid ads. None mentioned the Mexican debacle, Playa Enterprises, or the Playa Del Sol Company, Ltd. Larner’s corporate face was now the ML Group.
No mention of the Cossack brothers, either. Or any of Larner’s fellow venture capitalists, though showbiz and Wall Street affiliations were implied. The only other ML staffer named was Larner’s son, Bradley, executive vice president.
Using “ML Group” as a keyphrase, I retraced all the search machines and obtained the exact same articles, plus one more: a two-year-old stroke job in a glossy rag titled Southwest Leisure Builder.
Centered amid the text was a color photo: Larners, father and son, posing on a bright day in Phoenix, wearing matching royal blue golf shirts, white canvas slacks, white smiles.
Michael Larner looked around sixty-five. Square-faced and florid, he wore wide steel-framed aviator’s glasses turned to mirrors by the Arizona sun. His smile was self-satisfied and heralded by overly large capped teeth. He had a drinker’s nose, a big, hard-looking belly, and meticulously styled white hair. A casting agent would’ve seen Venal Executive.