John Vigniero News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Michael Mota’s public company is making all kinds of claims to investors and the OTC markets about what it’s doing with the former Memorial Hospital. But those claims aren’t true — and that’s a problem under federal securities laws.

The Rhode Island Housing Department has contracted lawyers to explore a possible condemnation of the property. But if the state seizes the former hospital’s buildings, then it will be responsible for expensive remediation, maintenance, and repair costs.