Fox Rothschild Trial Team Wins $1.2M Verdict For Judge's Widow Defrauded In Fraudulent Trust Deed Scheme

Fox Rothschild Partner Aaron Craig, along with Associates Lindsay M. Holloman and Jacob S. Perskie, recently succeeded in winning a $1.2 million verdict on behalf of Ruth Light, widow of longtime Los Angeles Superior Court Judge Leslie Light, against the perpetrators of a Ponzi-type scheme targeting senior citizens.

Over the course of nearly eight years, Chatsworth and Granada Hills companies Baypoint Mortgage, Valley Trust Deed Services, Westar Loan Servicing, and their owners and officers, sold their investors, including Ms. Light, shares of notes secured by nearly worthless deeds of trust that defendants brokered and serviced. The defendants, led by Charles Hasbun of Chatsworth, CA, and Gregory Abeson of Ventura, CA, induced their victims to invest by misrepresenting the value and the progress of construction on the properties securing the loans. Although the defendants told Ms. Light the loan proceeds would be used for construction, the monies were divided up between the defendants and their borrower-accomplices, with some funds being used to partially repay investors on older loans.

At trial, Ms. Light proved that the defendants breached their fiduciary duties and employed numerous schemes to defraud her, and a jury awarded her $1.2 million.

Craig, based in Fox Rothschild's downtown Los Angeles office, has a lengthy string of victories representing plaintiffs and defendants in real property, intellectual property, financial fraud and other commercial and bankruptcy litigation throughout his 14 years of practice.

Holloman, based in the firm's Century City office, represents clients in a variety of complex commercial litigation, employment litigation and intellectual property matters. She has represented high-profile corporations in actions against competitors, litigated trade-secret matters and has represented employers in claims involving discrimination, harassment and retaliation.

Perskie is a well-seasoned commercial litigator resident in the firm's Atlantic City, New Jersey office. He has significant experience in state and federal courts at both the trial and appellate level. Regularly, he represents high-profile entities and individuals in high-stakes professional negligence, employment, estate, and shareholder disputes.

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