Lawsuit Filed Against Motti Gruzman for NIS 6,000,000 Over Undelivered Apartments in Bruck
Israeli doctor and his spouse vs. Motti Gruzman, Tci Hotels Gmbh, Excellion Development Group Ltd
In a legal proceeding dated December, 2022, Doctor B. and his wife (whose names have been removed at their request) have initiated legal proceedings against Motti Gruzman and the companies mentioned in the first lawsuit. The plaintiffs seeked restitution amounting to 6 million shekels for breach of contract related to the acquisition of three holiday apartments in Bruck, Austria. The lawsuit was commenced in the Tel Aviv District Court. The plaintiffs contend that in February 2017, they entered into an agreement with TCI Hotels to purchase three units within an above-mentioned Hollern hotel near Zell am See in the Salzburg district. TCI Hotels operates in partnership with Excellion Development.
However, the apartments were never delivered. Subsequent investigation revealed that Gruzman's explanations for the project delays were false, with indications of funds being misappropriated. The couple alleges that Gruzman diverted funds to other projects in Austria, constituting what they characterize as a Ponzi scheme, and continues to promote the project through alternative channels in order to attract further investors as mentioned in the first lawsuit above.
