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Financial Woes Mount for Morgan RV Resorts
Posted By RVBusiness On April 26, 2013 @ 8:35 am In Breaking News | 6 Comments
Robert Moser is struggling to stay out of financial and legal trouble in other states, and some residents of his Adirondack recreational vehicle campsite, Coldbrook Campsites in Gansevoort, N.Y., are worried they won’t have a home this summer, the Saratoga Springs Saratogian reported.
Moser, a resident of Greenfield Center, is the owner and CEO of Morgan RV Resorts, which is a division of Morgan Management LLC. According to its website, the company manages $2 billion in real estate assets and “is responsible for 16,000 apartments, 16,000 recreational spots, 8,000 mobile home sites and a variety of industrial parks and resorts.”
The company maintains RV parks, campgrounds and manufactured home sites in Connecticut, Florida, Indiana, Massachusetts, New York, New Jersey, North Carolina, Ohio, Virginia, Wisconsin and other states. Morgan RV Resorts is considered one of the largest privately owned RV park corporations in the country.
The Coldbrook Campsites in Gansevoort is normally bustling with activity at this point in the season, a week before opening day, summer resident Helga Manning of Schenectady said.
But on Wednesday afternoon (April 24), the campground was deserted, with no workers in sight. Pinecones and brush littered the property and a glance into the camp store’s window revealed a jumbled, chaotic mess of abandoned camping goods.
Manning is one of more than 200 people who rely on the Coldbrook Campsites as their home for the summer season. She said some residents have already paid the $2,500 camping fee for the summer and that she and other residents of Moser’s campsites are concerned because rumors are circulating that the campground won’t open and they will lose their deposits.
Much of that concern is rooted in court documents, filings with the Securities and Exchange Commission and newspaper articles that tell a story of a company deep in debt and its owners, who are accused of going to unseemly lengths to make a buck.
Massachusetts Attorney General Martha Coakley took Moser to court in 2011 and won, after Moser and his staff strong-armed nearly 100 residents into purchasing expensive memberships to stay in their homes. Some residents paid as much as $16,000 because they were scared of being kicked out of Peters Pond RV Resort in Sandwich, Mass.
“This company took advantage of elderly customers and retirees who invested a significant amount of money in their homes,” Coakley said in a press release after the attorney general won the case in 2012. “It is difficult to believe that any business would try to strong-arm people who worked and saved their entire lives so they could enjoy their golden years. We are thankful that these practices will end and that consumers will receive restitution.”
But Jillian Fennimore, a spokeswoman of the Massachusetts Attorney General’s Office, said the office still has a contempt action pending against Moser, his attorney, Carmel Gilberti, and various companies Moser conducts business through for “discouraging consumers from accepting restitution to which they are entitled,” according to court documents.
The court documents filed by the Massachusetts attorney general allege “defendants and Gilberti repeatedly misinformed consumers that if they accept restitution, the consumer’s seasonal fees for 2012 will increase by about 25 percent.”
Moser’s business partner is Robert C. Morgan, the owner of Morgan Management in Rochester.
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