The legal nightmare known as River City continues

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There’s a whole lot of finger pointing going on in River City.

The defunct Philadelphia development once known as River City, that is.

The former proposed mixed-use, 12 million-square-foot development in Philadelphia lured prospective investors with promises of several 600-foot skyscrapers, even though at the time, city ordinances prohibited skyscrapers taller than 125 feet and the advertised square footage greatly exceeded zoning regulations. Ultimately, the project collapsed and investors lost millions of dollars.

According to documents filed in U.S. District Court for the Eastern District of Pennsylvania, investors were told that changes to height and square footage restrictions were pending before the city common council at the time financing for the project was underway, and existing zoning regulations would not negatively impact the development.

When the project was exposed as a Ponzi scheme, British real estate investor Berish Berger sued developer Eli Weinstein, and business partners Ravinder Chawla and Richard Zeghibe, for fraud.  Unfortunately, this was not the first time Berger had been swindled by Weinstein. In the past, he had been induced to participate in several other fraudulent real estate schemes spearheaded by the man.  Weinstein was ultimately convicted of fraud and sentenced to 22 years in prison for using phony Philadelphia real estate projects to swindle members of the Orthodox Jewish community.

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Jane Kaiser
A former attorney and trained journalist with more than 30 years of experience, Jane E. Kaiser is an accomplished writer, editor, and author. She regularly ghostwrites nonfiction books and blogs for professionals, including lawyers and law firms, accounting firms, healthcare and insurance organizations, Fortune 500 corporations and small businesses, public relations and marketing agencies, nonprofits, and civic/trade organizations.  Jane has also written speeches for a U.S. president, presidents of the American Bar Association, and an attorney in South Korea; edited publications and reports for major corporations and small service firms; executed communications plans for non-profits and new organizations; and ghost written articles for attorneys, CEOs, and small business owners. The author of "Wisdom, Tips and Musings on Marketing and Public Relations (2002)," Jane has also written for such publications as the Minneapolis Star, Kenosha News, Twin Cities Magazine, Virginia Lawyers Weekly, Illinois Legal Times, Wisconsin Opinions and the Wisconsin Law Journal. In addition, she writes romantic fiction under a nom de plume, and will publish five books about lawyers in love this year. Jane completed undergraduate and graduate degrees in journalism and education from the University of Minnesota, and a law degree from St. Louis University. She also attended Northwestern University.