Miami Herald

Famed Miami real estate developer feels ‘vindicated’ after judge throws out lawsuit

- BY RENE RODRIGUEZ rrodriguez@miamiheral­d.com

A Miami-Dade Circuit Judge on Monday summarily dismissed a lawsuit against real estate developer Edgardo Defortuna that accused him of defrauding two lenders and one investor in his Jade Ocean luxury condo tower at 17121 Collins Avenue.

Judge William Thomas ruled that the plaintiffs — Florida Beach Investment, Spartan Capital and Capital Building — had no evidence to support their claims that Defortuna and his company Fortune Internatio­nal Group misled them about their investment in the project.

The lawsuit, which was

Judge Thomas ruled on Monday that there was no evidence to support a claim by Florida Beach that they were misled by Fortune Ocean to invest $500,000 in the Jade project. The judge also ruled there was no evidence of breach of contract by Fortune.

In a previous ruling, the judge granted a request by Spartan and Capital to be paid back their $250,000 loans plus 18 percent interest and attorney fees.

The plaintiffs had asked for triple the amount of their investment­s in damages and accrued interest.

“All the allegation­s of any fraud or misconduct have been establishe­d as false,” said Susan Raffanello, partner at the Coffey Burlington law firm who represents Defortuna. “Fortune will be seeking its attorneys’ fees and costs for having to fight this six-year meritless litigation.” Jennifer Recine, the attorney who represente­d the plaintiffs in the suit, said she plans to appeal Monday’s decision that barred her from amending the complaint, which was prepared by previous counsel.

“The Court dismissed Florida Beach’s breach of contract claim based solely on a pleading technicali­ty, and not on the merits of the underlying allegation­s of self-dealing by Mr. Defortuna,” she said.

Two other lawsuits against Defortuna are still pending. Another Jade Ocean lender, Iver Interest and Trade, claims Defortuna stopped payments on a $2 million loan and still owes $1.5 million plus interest. A judge will rule in January on a request by the law firm of Coffey Burlington to dismiss the case, claiming the lender waited too long to sue and legal time limitation­s have expired.

Another lawsuit, scheduled for trial in February, claims Defortuna and Manuel Grosskopf, principal for the Chateau Group, resorted to unseemly tactics to block the sale of an

A circuit court judge dismissed a lawsuit that accused Miami real estate developer Edgardo Defortuna of defrauding investors and lenders in the Jade Ocean condo project in Sunny Isles.

old condo building in Sunny Isles in order to protect the beach and ocean views of the tenants of their 52story Ritz-Carlton tower.

Defortuna said he feels confident the remaining lawsuits also will be dismissed.

“This is not about money for me: It’s about my integrity,” he said. “I’m concerned about my legacy and my children hearing from their peers at school that their father is shady. Today’s ruling vindicates everything that I’ve been working and fighting for over the last 30 years of my career.”

Rene Rodriguez: 305-376-3611, @ReneMiamiH­erald

 ?? Miami Herald file ?? Edgardo Defortuna
Miami Herald file Edgardo Defortuna

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