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Sunday, June 16, 2024 | Back issues
Courthouse News Service Courthouse News Service

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Fraud, fraudulent inducement, negligent misrepresentation and contract actions where the plaintiff says the defendant issued an appraisal that grossly overvalued the Lake Las Vegas residential and resort development in Nevada, resulting in lenders investing $250 million in a loan refinancing transaction by a global investment bank that was exclusively secured by the as yet undeveloped property. The borrowers soon defaulted, leaving the lenders holding the bag on hundreds of millions of dollars in losses.


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