Latest news with #WynnResort
Daily Mail
06-05-2025
- Daily Mail
Ultra-glamorous attorney's life in tatters after she developed multi-million dollar CASINO addiction
A high-profile California attorney who fueled her lavish lifestyle and casino addiction by embezzling more than $8 million from clients has been sentenced to federal prison. Dubbed 'Lady Mafia', Sara Jacqueline King, 41, first made headlines in 2023 after she was accused of swindling millions out of investors and friends to bankroll a luxurious lifestyle filled with designer goods, jewelry, fast cars, luxury hotels and a high-rolling gambling habit. On Monday, a judge sentenced the glamorous lawyer to one year and nine months behind bars, The Orange County Register reported. 'This is a lot of money,' US District Judge David O. Carter said, according to the outlet. 'There has always been a tremendous sense of betrayal.' Last year, the Newport Beach attorney pleaded guilty to money laundering and fraud, admitting to swindling her investors out of $8.7 million. Victims said she would regularly boast of her high-profile connections, with photos later emerging of her posing alongside celebrities - including NFL stars Tom Brady and Patrick Mahomes. She was also caught on camera splashing her ill-gotten gains on a months-long gambling spree at the exclusive $300-a-night Wynn Resort in Sin City, subsequently sharing photos of the wads of cash and designer goods to social media. However, her defense attorney told the court that alcohol, drug and gambling issues played a significant role - both physically and emotionally - in isolating King from loved ones and driving her towards the multimillion-fraud scheme. 'She has been humbled,' Sam Cross, King's attorney, told the judge, according to The Orange County Register. 'She has lost everything. She has to rebuild from nothing at the age of 41,' he added. 'She is really starting from zero.' On Monday, First Assistant US Attorney Jennifer Waier said that in a separate case, King helped the government convict a man named John McCabe, who scammed a 78-year-old Irvine man out of nearly $2 million, the outlet reported. However, Waier also pointed out that even after pleading guilty, King referred to herself as 'Lady Mafia', during a bombshell podcast appearance in November - her first interview since the arrest. Speaking to the host Michele McPhee last year, King boasted how she could 'sell anything' - 'even fire to the devil' - and delighted in her Lady Mafia nickname. 'I love everything mafia. Always been fascinated by the mafia because I love the power moves. I always try to be the girl at the guy's table,' she said. During the podcast, King revealed that she had become bored with life as a lawyer and was seeking something more lucrative. 'I was looking for a way out of law. Law was so miserable. I hate being a lawyer, it makes no money whatsoever so let me invest. I need to make money,' she said on the podcast. This, she claimed, is why she launched a company called King Family Lending in 2018, which is when her elaborate scheming began. 'It was brazen,' Waier said of King's scam on Monday. 'It went on for a long time. This defendant is a lawyer. She had the trust of the public.' In a letter to the court, one of the defrauded investors - who had been a friend of King's husband - accused her of weaponizing her legal expertise to 'destroy the lives of those who trusted her', according to The Register. The investor claimed that King sent fake documents, including doctored photos of cars and luxury watches, to create a false sense of 'security and legitimacy'. 'This wasn't a mistake,' the investor wrote in the letter, according to The Register. 'It was an elaborate, sustained scheme built on lie after lie,' the letter added. 'What she did took planning, effort, and cold disregard for the damage it would cause.' 'She took not only my money, but my peace, my trust in others, and my ability to feel safe in my relationships.' The high-flying attorney's jaw-dropping lifestyle and secret, nonstop gambling habits began unraveling when she was first hit with a federal lawsuit in 2023, accusing her of conning a lender out of more than $10 million. LDR International, a British-based lender, dragged King to court through Santa Ana US District Court - accusing her of breach of contract, fraud and outright theft. The lender was one of several firms to repeatedly funnel funds into the 41-year-old's personal account. While in court back in 2023, prosecutors laid bare how King accepted the cash through her Newport-based LLC King Family Lending, which she ran in addition to her post as a partner at King Reuben Law Firm in LA. Federal officials said she had used this company to recruit investors to fund business loans between January 2022 and 2023, and would use her looks and charm to hobnob with celebrities as a way to inspire trust. The company provided short-term loans to professional athletes, celebrities and other wealthy individuals - a fact King acknowledged in her written plea deal, The Register reported. She promised to repay these loans, plus interest, and assured investors that any defaults would be covered by selling off collateral - including yachts, luxury cars and watches. However, the business was a sham. For most of 2022, federal agents said King took those millions to gamble and buy luxury items - including a $132,000 electric Porsche Taycan. The loans were secured by various forms of 'collateral' erroneously put up by King, including luxury cars, jewelry, watches and professional sports contracts - none of which actually existed. She emptied her bank account to fund her wild lifestyle, gambling so much that she even became known as the 'Slot Whisperer'. In order to secure each loan, King provided LDR with fraudulent title documents, appraisals, photographs, and contracts, along with fake proof of funding through cashier's checks that had the borrowers' names redacted. One photo showed the attorney posing with notable NFL stars Aaron Rodgers, Tom Brady, Patrick Mahomes and Josh Allen at a high-profile golf event held at the Wynn last summer. She met them while living there for six months and blowing $7 million in the ritzy resort's casinos on 24/7 gambling. It was during this time, investors claimed, that most of her funds were drained. That photo, as well as several others, were sent 'to increase Plaintiff's trust and confidence in King in terms of her connections, lifestyle, and connections to high-profile athletes as part of her fraud and scheme,' lawyers wrote. After being served with the 2023 suit, the once-highflying lawyer sent photos of her own bank account that showed she had only $11.98 to her name - a result of the hard-partying binge at the $300-a-night hotel. The suit charged that a cooperating witness spotted King gambling at another casino on the strip days after being hit with the federal fraud filing - and even contained a photo as proof. In May of 2023, King secured a $195,000 loan with photos of three watches including a pricey Audemars Piguet Royal Oak with a rose gold band. Her ex-husband, Kamran Pahlavi, told that most of the vehicles King claimed - which included a $410,000 Rolls Royce - were cars she took pictures of while in Las Vegas or at a luxury rental car store not far from the hotel. Lawyers for the lending service would also provide proof of the nearly 100 short-term loans carried out by King, as well as the high-value assets she put up to secure them - more often than not luxury items such as designer handbags, jewelry, and a collectible comic book valued at $25,000. Other items allegedly made up by King included a $400,000 Tiara F44 yacht, and a $450,000 1961 Aston Martin. Lawyers said King has never been in possession of those things. Additionally, the lawsuit stated that several of the 97 loans were to be backed by guaranteed contracts garnered from professional athletes - hailing from high-profile leagues leagues such as the NFL, MLB, NHL, and MLS. In July of 2023, King ultimately admitted to causing five investors, including LDR, to lose more than $8 million, and said she had withdrawn approximately $132,156 of investor money to purchase a Porsche Taycan electric sports car. Roughly $7 million of that money was said to be spent at the casino back in 2022. As part of a plea deal, she agreed to pay restitution of at least $8,785,045 after her original January sentencing was postponed. King, in her own filing, claimed that her now-estranged husband would be there as she played in the high-limit slot rooms in Las Vegas, according to The Register. The former attorney said that he would then collect her winnings after hitting a large jackpot. In court on Monday, US District Judge Carter cited the large monetary loss for King's trusted investors and denied a defense request for a shorter prison sentence.
Gulf Business
14-03-2025
- Business
- Gulf Business
Latest pictures: See how RAK's Wynn Al Marjan is shaping up
Image credit: Supplied by Invest Dubai Real Estate (IDRE) Progress on the new Wynn Resort on Al Marjan Island, Ras Al Khaimah, is steadily advancing as per recent images that Gulf Business has obtained. Read more: Wynn Al Marjan Island is located 50 minutes from the Dubai International Airport in the emirate of Ras Al Khaimah and is all set for opening in 2027, according to recent statement from The latest update on the project, which was published last month, indicates that Construction on Wynn Resorts' casino began in early 2023 and will include 1,542 rooms and suites, including 22 private villa estates, a 15,000 sqm shopping esplanade, a five-star spa, and a 7,500 sqm meetings and event centre at a cost of around £3.1bn (Dhs12.4bn). The d The photos posted below reflect how far development on the project has come. Gulf Business has received the latest pictures of the project's progress from Invest Dubai Real Estate (IDRE). Image credit: Supplied by Invest Dubai Real Estate (IDRE) Image credit: Supplied by Invest Dubai Real Estate (IDRE) General Commercial Gaming Regulatory Authority in UAE The The entity was established by Federal Law by Decree and is headquartered in Abu Dhabi. It is the executive authority that holds exclusive jurisdiction to regulate, license, and supervise all commercial gaming activities and facilities in the UAE. The authority also states that any GCGRA's mandate for the casino, which comes under the umbrella of land-based gaming facilities, includes physical establishments that offer a variety of commercial gaming games, such as slots, roulette, blackjack, baccarat, craps, and more. Residential development at the Al Marjan Island The Al Marjan Island in Ras Al Khaimah will also feature around 20 residential developments, according to a statement from IDRE. The brokerage says the stock is set to include off-plan studios, as well as one, two, and three bedroom apartments to be launched from April 2025 onwards. IDRE says at launch of one-bedroom apartments under its portfolio, some of these will be listed at £475.64 per square feet (Dhs2,220) with a final cost of £368,621 (Dhs1,705,000). 'Wynn Al Marjan Island is one of the most exciting building projects happening in the UAE, and IDRE is delighted to be leading the sales of a number of the main residential developments in the area,' Asad Khan, CEO of IDRE, said. 'Every lot was sold months ago because people recognise that Wynn Al Marjan Island has the potential to be the new jewel in the crown of the UAE for aspirational people to work, live, and invest,' Khan added. Highlighted below are concept images from Wynn Resort's Instagram page which shows how it is intended to look once completed. Image credit: wynnalmarjanisland/Instagram Image credit: wynnalmarjanisland/Instagram Image credit: wynnalmarjanisland/Instagram
Gulf Insider
15-02-2025
- Business
- Gulf Insider
UAE: Ras Al Khaimah Real Estate Booming After Massive 118% Surge In Transactions
The booming Ras Al Khaimah real estate market saw a record-breaking surge in 2024, with total transactions soaring to AED15.08bn ($4.1bn), according to the emirate's Municipality figures. This represents a remarkable 118 per cent increase from AED6.94bn ($1.9bn) in 2023. This unprecedented growth underscores Ras Al Khaimah's rising appeal among investors and homebuyers, further solidifying its position as one of the UAE's most promising real estate markets. The surge in transactions reflects the emirate's continued transformation into a hub for high-end yet accessible real estate, offering a unique blend of luxury, affordability, and long-term investment potential. With its prime waterfront developments, strategic infrastructure projects, and expanding entertainment offerings, including the much-anticipated Wynn Al Marjan Island, with the first UAE casino, Ras Al Khaimah is attracting both global and regional investors seeking high-yield opportunities. Andrei Charapenak, CEO of Major Developers, said: 'The extraordinary growth in real estate transactions in Ras Al Khaimah is a testament to the emirate's evolution into a top-tier investment destination. As an early believer in Ras Al Khaimah's potential, Major Developers continues to shape its future by delivering premium waterfront projects that align with the emirate's vision for sustainable and high-value real estate. 'In 2024 we have witnessed a surge in demand confirming that investors and homebuyers alike recognize the unique opportunities this market offers, and we remain committed to delivering world-class developments that maximize long-term returns.' Projects such as Al Marjan Island—home to some of the most sought-after waterfront residences in the UAE— are seeing heightened demand, with investors eyeing strong rental returns ahead of the Wynn Resort's grand opening.
Mid East Info
14-02-2025
- Business
- Mid East Info
Ras Al Khaimah's Real Estate Market Surges by Nearly 118% in 2024, Reinforcing its Status as a Prime Investment Destination
According to the latest statistics from Ras Al Khaimah Municipality, the emirate's real estate market has witnessed a record-breaking surge, with total transactions soaring to AED 15.08 billion in 2024—a remarkable 118% increase from AED 6.94 billion in 2023. This unprecedented growth underscores Ras Al Khaimah's rising appeal among investors and homebuyers, further solidifying its position as one of the UAE's most promising real estate markets. The surge in transactions reflects the emirate's continued transformation into a hub for high-end yet accessible real estate, offering a unique blend of luxury, affordability, and long-term investment potential. With its prime waterfront developments, strategic infrastructure projects, and expanding entertainment offerings—including the much-anticipated Wynn Al Marjan Island—Ras Al Khaimah is attracting both global and regional investors seeking high-yield opportunities. Commenting on the remarkable market performance, Andrei Charapenak, CEO of Major Developers said: ' The extraordinary growth in real estate transactions in Ras Al Khaimah is a testament to the emirate's evolution into a top-tier investment destination. As an early believer in Ras Al Khaimah's potential, Major Developers continues to shape its future by delivering premium waterfront projects that align with the emirate's vision for sustainable and high-value real estate. In 2024 we have witnessed a surge in demand confirming that investors and homebuyers alike recognize the unique opportunities this market offers, and we remain committed to delivering world-class developments that maximize long-term returns.' Beyond real estate, Ras Al Khaimah continues to evolve as a major lifestyle and tourism destination. The emirate's expanding hospitality sector, bolstered by upcoming world-class resorts, enhanced air connectivity, and sustainable urban planning, has amplified its appeal to global visitors and residents alike. Projects such as Al Marjan Island—home to some of the most sought-after waterfront residences in the UAE— are seeing heightened demand, with investors eyeing strong rental returns ahead of the Wynn Resort's grand opening. Major Developers, at the forefront of this transformation, is actively contributing to the emirate's growth by introducing innovative residential and mixed-use projects that cater to both end-users and investors. With its exceptional quality of life, investor-friendly regulations, and high rental yields, Ras Al Khaimah has cemented itself as one of the UAE's most dynamic real estate markets. As demand continues to rise, real estate developers across the emirate are dedicated to creating landmark developments that redefine modern waterfront living and investment potential.
Khaleej Times
13-02-2025
- Business
- Khaleej Times
RAK's real estate market witnesses remarkable growth amid luxury appeal
Ras Al Khaimah is experiencing a remarkable surge in its real estate market, marked by record-breaking transaction volumes that underscore the emirate's growing allure for luxury living at a fraction of the cost compared to established markets worldwide, property experts said. In 2024, total real estate transactions skyrocketed to Dh15.08 billion, reflecting an astonishing 118 per cent increase from Dh 6.94 billion in 2023, according to the latest data from Ras Al Khaimah Municipality. This unprecedented growth highlights RAK's transformation into a hub for high-end yet accessible real estate, offering a unique blend of luxury, affordability, and long-term investment potential. Real estate experts assert that this uptrend solidifies the emirate's position as one of the UAE's most promising property markets. 'The surge in transactions reflects the emirate's continued evolution into a premier destination for high-end real estate, combining luxury with affordability,' said Andrei Charapenak, CEO of Major Developers. 'As an early believer in RAK's potential, we are committed to delivering premium waterfront projects that align with the emirate's vision for sustainable, high-value real estate.' The emirate's appeal is further enhanced by its prime waterfront developments, ongoing infrastructure projects, and expanding entertainment options, including the much-anticipated Wynn Al Marjan Island. These developments are drawing both global and regional investors seeking lucrative opportunities. Charapenak elaborated, 'Our commitment to shaping RAK's future through innovative projects is evident. In 2024, we've seen a surge in demand, confirming that both investors and homebuyers recognise the unique opportunities this market presents. We are dedicated to creating world-class developments that maximise long-term returns.' Real estate analysts highlight that RAK is not just a property market; it is evolving into a major lifestyle and tourism destination. The emirate's burgeoning hospitality sector, bolstered by new world-class resorts and enhanced air connectivity, is amplifying its appeal to global visitors and residents alike. Projects like Al Marjan Island, known for its sought-after waterfront residences, are experiencing heightened demand as investors anticipate strong rental returns ahead of the Wynn Resort's grand opening. Major Developers is at the forefront of this transformation, actively contributing to the emirate's growth with innovative residential and mixed-use projects designed for both end-users and investors. 'Ras Al Khaimah boasts an exceptional quality of life, investor-friendly regulations, and high rental yields, solidifying its status as one of the UAE's most dynamic real estate markets,' added Charapenak. The emirate's appeal extends beyond homebuyers, with a robust rental market supported by a growing expatriate population and strong demand for quality properties. 'Ras Al Khaimah's strategic developments, particularly the limited supply of 20,000 units on Al Marjan Island, position it as a lucrative destination for investors,' noted a realty expert. 'Projects like Manta Bay, which offers the most affordable studio apartments starting at Dh 1.2 million, are especially attractive due to their proximity to key attractions like the upcoming Wynn Resort.' With two years remaining until the Wynn Resort's grand opening, the average hotel room rate in the area currently ranges between Dh1,000 and Dh1,500 per night. For property investors in Manta Bay, renting an apartment at Dh 1,000 per night for 255 days a year—a conservative 75 per cent occupancy rate—could yield Dh 255,000 in annual rental income. After deducting management fees (15 per cent, or Dh30,000), service charges (Dh 6,000), and other expenses (Dh 7,000 for utilities), investors would net Dh 212,000 annually. This translates to an impressive rental return on investment (ROI) of 15 per cent, reaffirming RAK's position as a stable and well-regulated environment offering long-term returns. Market pundits said RAK's real estate market is not only thriving but also redefining luxury living, making it a compelling destination for investors and homebuyers alike. As demand continues to rise, developers are poised to create landmark projects that promise to elevate the emirate's profile on the global real estate stage, they added.
