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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Link to the above Bisnow article (which includes a few further links) :  https://www.bisnow.com/washington-dc/news/commercial-real-estate/cbre-faces-lawsuit-from-client-on-dc-deal-seeking-over-115m-in-damages-113629[/quote]

Thanks for posting that article.  Some solid substance in there, unlike the PR-sourced WaPo and Business Journal articles.[/quote]

SL 4000 Connecticut LLC and BL Connecticut LLC  ( 601W)  v CBRE, Inc

The complaint in this case breaks open the fraudulent representations made to parents, teachers and funders..it's worth reading. 
While Whittle was telling the press he'd raised $700 million,  we now see that they were already totally undercapitalized and desperate-and broke and lying months before the school even opened. and concurrent to Mazza Gallerie recruiting going at full force.

In Jan 2019   "Turner ( construction) informed Plaintiffs that it would walk off the job if it did not receive the $15M letter of credit plus additional monies that the Whittle School had failed to pay. As a consequence, Plaintiffs were forced to deposit a $10M security deposit with Turner as a result of the Whittle School's failure to do so in order to keep the project alive" This was happening WHILE they were serving champagne and fancy canapes and bragging about their war chest of cash from investors worldwide.

There's much more in this complaint--kickbacks to Whittle, fraudulent term sheets misrepresenting Chinese investment..it goes on and on.  Whittle will be sued now for fraud because CBRE will claim they didn't know better..

The question still remains : where was the Board in all of this? How negligent could they have been? And yes, Bisgaard must have known they stopped paying rent mid year , and didn't pay for insurance and couldn't make payroll all while he was encouraging parents to re-enroll and faculty to renew contracts.

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Nice to know that Mr. Warm Visionary Who Thinks and Cares So Much About Education continues his long tradition of making cute little side deals on every project. Deals that benefit him alone and that he keeps secret even from the people who imagine they're his partners.

I'd be shocked if he hasn't squirreled away quite a bit of the proceeds from those deals in unreachable offshore accounts over the decades, too. Making him much less broke than he's now pretending to be. I find this crying poor stuff unconvincing from a profsesional scammer.

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