NEW YORK-For the first time, a federal judge has applied an old federal law, meant to reduce fraud in Florida swampland sales, to aid unhappy buyers of Manhattan condominiums.
Due to the insufficient disclosure of the property's offering plan, the Manhattan judge has asked an Africa Israel-controlled company to refund deposits to three buyers of condos at 111 Fulton St. The judge referred to the Interstate Land Sales Full Disclosure Act to deal with this case. For the full story, go to Wall Street Journal.
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