Real estate loans go sour and senior woman blames long-time broker. $1.18 million. U.S. Eastern District Bankruptcy Court.
Summary
64-year-old instructs long-time realty broker/financial advisor to sell her rental properties; instead, he refinances properties and invests proceeds in real estate loans that go bad. $1.18 million verdict includes punitives.
The Case
- Court and Case Number: U.S. Eastern District Bankruptcy Court / 2013-02001
- Type of Case: Breach of Fiduciary Duty, Elder Abuse, Fraud
- Type of Result: Bench Verdict
The Attorneys
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Attorney for the Plaintiff: Goodman & Associates by Summer D. Haro and Karen M. Goodman, Sacramento.
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Attorney for the Defendant: Law Offices of Kenrick Young by Kenrick Young, Sacramento.