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Lawsuit Sheds Light on Leaky Properties in Hot Springs

1 min read

RichRich Properties LLC of Maumelle bought two commercial properties in Hot Springs in February only to discover that they were money pits.

RichRich now is suing the sellers, George Nasse of Las Vegas and Harry Nasse of Gulf Breeze, Florida, for fraud, alleging that the Nasses dishonestly indicated the properties were in good working order, according to the complaint filed in Pulaski County Circuit Court.

Only after RichRich bought the properties for a total of $510,000 did a leaky roof become apparent. The replacement cost of the roof was $26,500. The heating, ventilation and air-conditioning units also hadn’t been working properly for years, RichRich alleges.

The new owner has already replaced one unit for $7,260, and two more units need to be replaced at a cost of $14,500, the lawsuit said.

RichRich said in the lawsuit that had “it not been for the false representations of the Nasses, RichRich would not have agreed to purchase the Properties.”

RichRich is seeking an unspecified amount of money from the Nasses for the “knowing and willful” misrepresentations of the properties.

The Nasses couldn’t be reached for comment. As of Thursday, they hadn’t filed a response to the lawsuit.

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