In less than six months GEMSTONE RESORTS walked away from the new hotel rental program created by the Condo Board President (Michel Jekic) and Vice President (Laura Welliver) at the Hollywood Beach Hotel Owners Association. Even after stealing the phone number of SG RESORTS in an attempt to steal future reservations, the new hotel was not able to produce enough revenue for GEMSTONE RESORTS to even pay expenses. It's a real condo horror story and one that is being financed by diverted maintenance & assessment fees. When reported to the State of Florida's Division of Condominiums - nothing was done to protect the 1,700 timeshare owners and the 360 condo owners from going bankrupt as millions of dollars are diverted by an out of control grossly negligent Board of Directors.
I am one of the largest owners at this Condo Association and I have more to lose than most when funds are diverted. The State of Florida really does little to protect owners. It is a crying shame when the State of Flordia turns out to be all talk and no action.