A default judgment for obtaining a loan of $202,500 under false pretenses results in treble damages under Penal Code section 496. The case is Bell v. Feibush. Continue reading
Category Archives: Fraudulent
Do You Have a Claim Against a Real Estate Licensee?
The successful prosecution of a lawsuit, where only money is involved, is frequently less than one-half the battle. The successful plaintiff may also have to defend an appeal. If plaintiff prevails on appeal, plaintiff still must still collect. If the defendant is insolvent, collection may be impossible.
If the defendant is licensed by the California Department of Real Estate, there is hope for at least partial recovery on the judgment from the Consumer Recovery Account. If the judgment contains specific findings and is the result of intentional fraud, misrepresentation, or deceit, or conversion of trust funds in a transaction requiring a real estate license – plaintiff may be able to look to the recovery fund for satisfaction up to $50,000 per transaction. Continue reading