The Real Deal Miami

Arrest warrants for Palladio developers

October 17, 2008 11:35AM

Continued failure to return $10 million in deposits to buyers at the West Palm Beach condo development Palladio Terrace has prompted authorities to issue warrants for the arrest and detention of Merco Group executives Tony Castro and Homero Meruelo Jr. The luxury condominium once planned for North Flagler Drive in West Palm Beach was never built. For the past two years, though, Miami-based developer Merco Group has retained the deposit money. The warrants stem from a 2006 civil suit filed in Palm Beach County Circuit Court by would-be buyers. However, the failed condo project has triggered multiple suits, including one filed this month against the Gunster Yoakley law firm in West Palm.