Las Vegas Sun NewsNevada Supreme Court upholds ruling over failed luxury condo development
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29 November 2012
3:09 p.m.
The Nevada Supreme Court has upheld a ruling against Chris Milam, who has been working to develop a stadium in Henderson, in a case involving an unrelated development. The court on Wednesday upheld a 2010 ruling by Clark County District Court Judge Mark Denton, who found Milam was involved in fraud and breach of fiduciary duty involving a failed plan to develop luxury condominiums west of the Hard Rock hotel-casino in Las Vegas. Denton’s ruling says Milam misappropriated $1.1 million contributed by condo investors and falsely claimed the $1.1 million was his personal equity contribution to the project. Problems with ...
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It is my opinion that Milan is a great salesman who appears to try to convince major owners, landowners and public entities to build extraordinary, multibillion dollar projects. After producing amazing images, clients enter into contracts with Milam and sometimes various "team members" or "development partners". He then goes away and works on the project where it grows more grandiose. He will tell you to achieve this dream "we" will need "new financial partners" and he will suggest New York, or China, or Dubia, wherever the markets are hot right now. After 2-3 years of this you will figure out that you have been taken for all the pre-development costs to keep Milam and his associates living very well. You have a pretty picture, no project, bruised egos, and the Music Man has left town.