A federal judge sitting in Miami has handed down a ruling that has made a particular entrepreneur happy while producing a less positive outcome for the man’s former business partner who filed a claim against him. The plaintiff had claimed that the defendant misappropriated funds given to him to invest in business ventures by using some of the money to purchase several multi-million-dollar homes instead. However, the judge ruled there was no proof of that.
The defendant’s former business partner told the court that he was swindled. He claimed that the defendant pretended to be wealthy and would often pick him up in expensive vehicles, such as Ferraris. He also said that the defendant called him “brother” to make him believe they had established an intimate friendship so that he would want to go into business together.
Judge resolves real estate dispute
The several homes in question have a total value of approximately $13 million. The plaintiff alleged that the homeowner tricked him out of nearly $18 million by convincing him to invest in a military supply company and other business opportunities. The judge ruled that the plaintiff had failed to establish a connection between his personal investments and the purchase of the defendant’s homes. The judge found that the plaintiff did not prove that the money used to purchase the homes was his money. The court struck a lis pendens the plaintiff had filed against the defendant’s real estate properties.
Florida is a prime location for vacationing or living year-round. If a real estate dispute arises, it is important to know where to seek legal support. Experienced legal representation is often the key to obtaining a positive outcome in court.
