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Palm House Robert Matthews EB-5 Clintons Trump Tony Bennett https://therealdeal.com/miami/issues_articles/lost-paradise-at-th... MHiyoo Hf ~~ "SOUTH FLORIDA REAL ESTATE NEWS Q SUBSCRIBE MY ACCOUNT NEW YORK CITY REAL ESTATE NEWS Jume 2019 Lost paradise at the Palm House The planned $91M hotel-condo project has been a case study in EB-5 fraud, leaving investors in the lurch and an unfinished building in its wake e By Keith Larsen | June 17, 2019 11:00AM f y InWw < The Palm House When Chinese, Iranian and Turkish investors received marketing brochures for the town of Palm Beach's first EB-5 project in 2012, it seemed like a sure thing. Pamphlets in Chinese and Farsi showed photos of the Clintons and Donald Trump as part of the Palm House condominium and hotel advisory board of “political and business leaders with worldwide experience.” In addition, the marketing materials named Celine Dion, Tony Bennett and billionaire Bill Koch as celebrity members at the hotel’s club. But more than six years later, the Palm House’s planned $91 million makeover remains unfinished. The dilapidated 80,000-plus-square-foot hotel finally sold in a bankruptcy auction last month to a U.S. affiliate of the real estate investment firm London & Regional Properties for just shy of $40 million. To add salt to the wound, Trump and Clinton were never on the project’s advisory 1 of 10 6/26/19, 11:57 AM HOUSE_OVERSIGHT_029520