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California law firm, Tacsis APC, has filed a federal racketeering lawsuit against former NBA player Jackie Robinson and several others for allegedly failing to repay $800 million in loans for a defunct arena project on the Las Vegas Strip. The lawsuit claims that Robinson lured investors into loaning funds with promises of high interest and quick repayment, but instead used the money for personal gain.
The complaint alleges that Robinson and his associates collected an estimated $800 million in short-term loans between 2014 and 2019, which were never repaid. It also accuses Robinson of paying himself, family members, and business partners while knowing the project was facing a huge deficit and on the verge of collapse.
Tacsis APC is seeking damages of over $6.4 million from Robinson and several other defendants, including All Net Land Development, Dribble Dunk, AGS Assurety, and others. The lawsuit claims that many of these individuals were aware of the fraudulent scheme but chose to participate anyway.
The project in question was a proposed $1.3 billion basketball arena at 2601 South Las Vegas Boulevard, which Robinson had been trying to build for over a decade before abandoning it last year due to lack of progress. The site is now being considered for a new development by LVXP, which plans to build a 752-foot-tall hotel and condominium complex with an 18,000-seat arena for an NBA team.
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