Airbnb Sues Miami Real Estate Developer It Once Gave Rights To Its Name

Airbnb now says that the Miami real estate developer it entrusted to open the first apartment buildings branded with its name violated a January 2019 agreement and stole at least $1 million. Lawyers for the home-sharing company filed a suit in San Francisco federal court Thursday against NGD Homesharing and CEO Harvey Hernandez. The suit alleges that “NGD and Hernandez stole funds, made unauthorized loans to other Hernandez-controlled companies, fraudulently backdated documents, breached contracts, and then lied repeatedly in an attempt to cover their tracks.” The complaint concludes, “NGD utterly failed to deliver on the core purpose of this partnership: creating more home-sharing accommodations for the Airbnb community, particularly in urban, multi-family buildings.” Airbnb is seeking to terminate the relationship and recover its investment. Click to read more at