"Virgin Hotels also defrauded Hotel Developer out of unearned management fees by inflating reported hotel revenue - which Hotel Developer only discovered after checking Virgin Hotels' figures against the amounts reported for city and state tax purposes."
1/6
The busted flush of Virgin Hotels San Francisco.
In this case Virgin Hotels San Francisco LLC [Richard Branson], and the Hotel Developer, 250 Fourth Development LP [Jay Singh].
2/6
"After more than 7 years of false promises, delays, mismanagement and outright fraud, Hotel Developer terminated Virgin Hotels' agency and management of the hotel in April 2020."
Perhaps Guernsey registered India Buildings Ltd has found its tribe?
3/6
The Virgin Hotels Opportunity promised:
'A property sales force "working in tandem with the sales force for Virgin America and Virgin Atlantic" which would make a "winning combination in achieving our topline goals"
'Virgin America Vanishes Along With Branson’s U.S. Dream'
4/6
'The last vestiges of the Virgin America brand are now aviation history [having been acquired by Alaska Air Group Inc/Alaska Airlines in 2016]'
What will India Buildings 15/04445/FUL, now owned by India Buildings Ltd, future be? Will it be subject to a court case challenging its daylight robbery of Central Library, Edinburgh?
How Richard Branson Is Trying To Save His Virgin Empire, 26 May 2020
And how might COVID-19 impact on Virgin Hotels and India Buildings, Edinburgh?
1/7
Virgin Hotels San Francisco delayed by 3 years, opened in 2019, closed in March 2020. Its owner, Jay Singh, Paradigm Hotels Group, terminated 20 year hotel management agreement citing: "gross mismanagement"; "affiliation with a brand that is essentially non-existent"; etc
2/7
Richard Branson suing Jay Singh for $20 million breach of contract + legal costs, which in turn is subject to a counter-claim citing five action causes including:
📢 FRAUD
📢 BREACH OF CONTRACT
📢 BREACH OF COVENANT OF GOOD FAITH
📢 BREACH OF FIDUCIARY DUTY
📢 ACCOUNTING
3/7