representations was untrue as he failed to meet all deadlines for depositing funds, other than the initial deposits. Sellers were led to believe that Suttles lacked any credibility whatsoever." Closure and planned redevelopment On September 14, 2005, it was announced that the Westward Ho would close on November 17, 2005, as it was in the process of being sold to Centex Destination Properties, a division of Centex Corporation. Centex, along with North Dakota hotel developer Tharaldson Companies, purchased the Westward Ho for $145.5 million, or $9.5 million per acre. Under the companies' agreement, Centex would act as the managing partner in a new project that would replace the Westward Ho. Later that month, Voyager Entertainment International announced an agreement with Centex to build a giant Ferris wheel as part of a master-planned resort to be built on the Westward Ho property. Voyager had unsuccessfully attempted to build its giant Ferris wheel on several different properties in Las Vegas. The Westward Ho closed at 5:00 p.m. on November 17, 2005. Centex's plans for the property included the possibility of multiple hotels, as well as a casino and a residential aspect. Centex considered incorporating the shell of the Westward Ho's front building – facing the Las Vegas Strip – into the design of the new project. Plans for the new project were expected to be announced by mid-2006. The Westward Ho and its 27 buildings were approved for demolition in January 2006. The demolition debris, known as riprap, was used by the Southern Nevada Water Authority and the Las Vegas Wash Coordination Committee to stabilize the Las Vegas Wash. In June 2006, Centex ceded a majority of its share in the property to Tharaldson Companies. That month, owner Gary Tharaldson planned to propose a $1.8 billion mixed-use project with 1,000 condo hotel units, 600 condominium units, 600 hotel rooms, an casino, and of retail space. By July 2006, Harrah's Entertainment had picked up options to purchase the Westward Ho property, and began negotiations to sell the land to Boyd Gaming – developer of the adjacent Echelon Place – in exchange for the Barbary Coast hotel-casino, also on the Las Vegas Strip. The exchange was completed later that year, at which point the Westward Ho land was valued at $101.6 million. Boyd planned to use the former Westward Ho property for a potential future expansion of Echelon Place, although Boyd later canceled the