Troubleshooters: Update on Mark Saunders and Coastal Companies

In tonight’s Troubleshooters report, we have an update on a story we have been covering for the better part of a year now.

More than 200 individual property owners are now suing local developer Mark Saunders. Saunders is president of the Coastal Companies, which is behind a number of major developments in Brunswick County.

Wilmington attorneys Sarah Reamer and Wes Hodges are representing the property owners from Ocean Ridge, Ocean Isle Palms, Sea Watch, and Rivers Edge.

The lawsuit started with 2 property owners back in February, and has now snowballed to include disgruntled customers from all over the country. The attorneys claim that Mr. Saunders orchestrated a scheme to artificially inflate the value of his properties, generating hundreds of millions of dollars in profits for Saunders and his co-defendants at the expense of the plaintiffs.

Many of the property owners have been unable to build their homes because infrastructures, like roads and sewer, have not been installed.

Attorneys hope to take this to court in the next month or two.

Categories: Brunswick

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