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Top hotel ‘going cheap’

Three men are facing fraud charges after trying to sell The Ritz hotel in London when apparently they were in no position to do so.

The Ritz

The Ritz

They negotiated a bargain sale price of 250m UK pounds (about $400m) for the iconic building and had talked two businessmen into handing over a $1.6m deposit before the prospective buyers found they were being conned.

A prosecutor told a London court this week that the deal was based on "one great big lie".

The three men were never in a position to sell the The Ritz, the true value of which is said to be closer to 600m pounds (about $900m).

"The deal that sounded to good to be true was a complete fantasy", the prosecutor said.

The accused are denying conspiracy to defraud.

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News in Brief for 6 February

UK SNOW CHAOS One-third of the flights at London Heathrow were due to be cancelled yesterday amid forecasts of heavy snow. Authorities warned of dangerous driving conditions.

RUN OVER BY JET A Boeing worker was seriously injured Saturday when he was run over by a 787 Dreamliner being towed at the planemaker’s Paine Field airport north of Seattle. The man was initially trapped under right wing landing gear.

SCUBA DEATH A US tourist has died while scuba diving in Grand Cayman in the Caribbean.The 47-year-old woman lost consciousness while ascending from a dive on Saturday. Efforts were made to revive her, but she was declared dead soon after being taken to a hospital.
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