As a happy Rocky Point owner and Sonora lover, I considered Liberty Cove several years ago. While I didn’t get involved, I did meet some of the owners in Scottsdale.
I don’t know much, but I did verify that Chernick was on the board of the Scottsdale Four Seasons, and that Ricketts was the lead developer of a popular California coast development. For me, that was significant because they had real experience behind them.
As a former Arizona raw land investor, I verified that they had come in, acquired raw Mexico land, got it zoned and plotted and made the standard improvements that all developers do to increase value, and they also pushed Sonora to put the coast road through their property. I also recall that they had begun underground construction and had confirmed take-out financing in place through Deutsche Bank.
The project was just a little too early on for me, and I don’t remember anything else and I’m not defending these guys. At most maybe they were wasteful but then many developers are. But they were clearly well into the process of developing this property.
So as an outsider, I can professionally say that you guys who throw around words like scam and fraud are all idiots. And the childish idiot Suz who says Mexico is a rat? What does that even mean? Grow up! Mexico has its challenges but also has tremendous long-term upside.
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