Investors accused the owner of a mall in Illinois of using their cash to buy two jets and fund a lavish birthday party for his dog
Investors are suing the owner of a mall in Illinois, accusing him of using their cash to splash out on jets, luxury properties, and a lavish birthday party for his dog., alleges that Jonathan Larmore, and other staff at Arciterra – a property company that owned Belleville Crossing mall in Belleville, Illinois – had breached their duties when they transferred some of the investors' money to themselves"to fund their unbelievably lavish lifestyle.
None of the company's more than 2,000 investors have received dividend payments since August 2019, and some haven't received payments since 2011, it said. Meanwhile, Larmore, his wife, and his mother collectively own approximately 12 houses throughout the US, including two recently remodeled"at tremendous expense" and four on an exclusive lake in Indiana. They also own a Cessna Citation jet, a, and have bought multiple cars and boats – including a $250,000 wake surf boat and a $2.5 million motor yacht, the plaintiffs said.
"They frequently throw lavish parties costing six figures. In the summer of 2022, they threw such a six-figure party, flying in friends and family on their private aircraft. One such party was to celebrate the birthday of their Boston Terrier, Spike," they added. Insider contacted Arciterra and Jonathan Larmore via LinkedIn for comment but did not immediately hear back.
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