RMCO, LLC

A fraud complaint in the United States against Cayman Islands realtor RE/MAX, its owners, Kim Lund and James Bovell, and others regarding the failed 'Island Resort Project' by Caribbean Island Developments Ltd. has been dismissed on jurisdiction grounds.

Cayman Islands real estate firm RE/MAX and its two principals, Kim Lund and James Bovell, are being sued in the United States for allegedly defrauding 30 investors out of more than $5 million in a Cayman property scheme known as 'Island Resort Project'.

Complaint in Joint Official Liquidators of Caribbean Island Developments, Ltd., both as liquidator of CID and as successor-in-interest to and assignee of the claims of Richard Allen, Ted V. Clark, Jill Bowers-Destro, Joseph Anthony Destro, Tony Jenkins, Thomas Leidell, Nancy Leidell, Joan Link, Gregory Link, Ken Liss, Martin McCarthy, Patrizia McCarthy, John Mikutowicz, Jack Neilson, Gitte Neilson, Jonathan Parker, Cheryl Parker, Mary J. Shanahan, Douglas Spencer, Kathleen Spencer, Richo Strydom, G. David Thomas, Mike Thomas, and Christopher Curlew Tribelhorn v. RE/MAX Holdings, Inc., RMCO, LLC, RE/MAX, LLC, Simba Ltd., d.b.a. RE/MAX Cayman Islands; Kim Lund, James Bovell, Oliver DeHart, and Michael Beggs at the U. S. District Court for the Northern District of Illinois.