A real estate purchaser at the $4.9 billion Ginn sur mer project in Grand Bahama's West End has alleged she lost $1 million as a result of "predatory lending practices" employed by the project's main financial backer, which are now the subject of a $24 billion US-based class action lawsuit.
L. J. Gibson, one of the lead plaintiffs in the lawsuit filed against Credit Suisse in the US district court in Idaho, alleged she and other members of the 'class action', who had purchased 195 lots at Ginn sur mer, had suffered a major financial loss as a result of the Swiss bank's purported lending policies, which had resulted in it taking over the project.
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