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In business development courts Third observation wheel coming to LV? woman pleads guilty in $5.4m fraud case By Conor Shine staff writer As she prepared to vote on a zoning commission item last month, Commissioner Chris Giunchigliani asked the presenter an innocuous final question. "What is the London Thrill? It's not another Ferris wheel is it?" she said with a hint of disdain in her voice. Standing in front of the podium, Eric Smithers, who represents the site's owners, responded with a sheepish laugh: "It's an observation wheel." "But it's more than just that," he quickly followed. "That's one component of an entire park." A third observation wheel could be coming to the Strip, joining the under-construction 500-foot tall wheel near Mandalay Bay and the 550-foot tall wheel at Caesars Entertainment's Linq project, which continues to grow skyward behind the Quad. The third wheel would be built on the east side of Las Vegas Boulevard south of Harmon Avenue, in a spot currently occupied by parking and several retail stores, including a McDonald's, a liquor store and a Tasti D-Lite. The wheel would be part of a "London-themed thrill park," and the project would cost about $50 million, according to testimony given to commissioners by Smithers and his attorney. After the hearing, Smithers declined to reveal fur- ther details about the project. Any plans for an observation wheel would have to first be approved by the county. Giunchigliani seemed skeptical of the viability of three observation wheels on the Strip. "We've got to get past this stuff where someone comes in and says 'I've got an idea du jour and we have to have four stadiums competing with each other and four of these and three of these,' " she said. Details about the attraction were revealed as part of a request to allow temporary outdoor retail structures at the site until construction begins. Smithers said the owner has acquired a parcel stretching from the Smith & Wollensky's to the corner of Harmon Avenue and plan to make improvements to the entire area. The commission voted to allow the developer to put five retail structures in the parking lot in front of the existing building for up to six months. Commissioner Mary Beth Scow, whose district covers the southern part of the Strip, said she's normally opposed to outdoor retail sales because they impede traffic and create clutter. But she said she voted to approve Smithers' request because of future plans at the site. "The fact that it's a new owner and that you're really going to do something wonderful on this property, we want to reward good behavior," Scow said. By Brian Nordli staff writer A Las Vegas woman employed by Turnberry Associates pleaded guilty in a case in which the real estate developer lost $5.4 million, said Daniel Bogden, U.S. attorney for the District of Nevada. Hope Ippoliti, 51, pleaded guilty to one count of conspiracy to commit wire fraud against the Florida-based real estate developer, which has owned or developed several properties in Las Vegas, including Town Square, Turnberry Place and the Residences at MGM. From May 2007 to January 2012, Ippoliti admitted to creating fraudulent fund transfer requests to Turnberry Associates with Rocco Lazazzaro, who also has been charged in the case, Bogden said in a news release. The money was supposedly for business purposes, but it was diverted into a Bank of America account over which Ippoliti had signatory authority. The funds were then withdrawn for personal use. Ippoliti is scheduled to be sentenced July 11. She faces a maximum 20 years in prison and a $250,000 fine. Lazazzaro, 55, is scheduled for trial April 23. STRATOSPHERE CASINO | HOTEL | TOWER Located on Level 106. TopOfTheWorldLV.com | 702.380.7771 8 20130408_VI08_F.indd 8 Sunday through Thursday, 11am to 10:30pm • Friday and Saturday, 11am to 11pm | 8 APRIL 2013 | 4/4/13 2:25:40 PM