LAS VEGAS -- There is confusion and fear at the Paradise Spa as homeowner there get notice the community is shutting down. The complex on Las Vegas Boulevard near Silverado Ranch has been the subject of FBI raids targeting the California owner of many of the units.
What's next for residents is uncertain. In the matter of 24 hours, they have gone from hearing the gas will be shut off, to a wholesale eviction, to now hearing there is someone willing to take responsibility.
Homeowner Ida Berle holds the red tag notifying her gas would be shut off June 19th. Every resident here got that notice, and word from the homeowner's association that because they were out of money, the entire complex would be shut down the end of the month.
"I never thought this can happen after all these years," she said.
Earlier this year, FBI agents took boxes of evidence after questions arose about nearly $2 million in missing HOA dues and insurance money. The HOA says that missing money may force them to close at the end of the month.
"Some other senior people here, where do they go? Where do we go if they shut down the end of the month?' said homeowner Pietro Musseto.
Most of the 384 units in the complex are owned by California real estate investor Aaron Yashouafar. Frank Colletto says his management company is paying the gas bill and more.
"We stepped in and paid the gas bill, so the gas will not be turned off. We've now got control of the electric information and the water. We're going to pay all those bills," he said.
The situation became unusual when questions are asked about who Coletto represents. He says he represents Milbank Real Estate, but is unsure if that company is connected to Yashouafar.
State officials list Yashouafar as the CEO of Milbank. Another man who represents Milbank refused to answer questions about the situation.
Yashouafar owns 75 percent of this complex. If he gains 80 percent control, he can dissolve the HOA. Appraisers saying they work for Yashouafar say he had plans to buy more units in the complex.
8 News NOW called Yashouafar's Los Angeles office. They said he is unavailable to answer questions due to "personal reasons."
A complaint from the State Commission for Common Interest Communities may force the issue. On July 6th, they will hold a hearing to determine the fate of Paradise Spa.
