A
lawsuit filed against Midtown Village in Orem, claims money intended for the
construction of Midtown Village was improperly given to the wrong people.
The
lawsuit was filed by Blackstone Financial Group Business Trust, which in April
purchased an interest in a Midtown Village construction loan that originally
belonged to BankFirst. Improper handouts resulted in serious cash shortages for
the project.
"Midtown
ran out of money before Midtown Village could be completed and certain
subcontractors were not paid," the lawsuit states.
A
further complication to already complicated circumstances is the economy and
the collapse of several financial institutions involved in Midtown Village.
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