Baba Nikou v. Khoubian

The plaintiff brought an action against the defendant clients for fraud, breach of fiduciary duty, and for an accounting. Essentially, the plaintiff alleged that the defendants used fraud and beaches of fiduciary duty to induce the defendant to invest $500,000 in a $6,000,000 shopping center mall project and that the defendants had also used fraud and on going breaches of fiduciary duties to induce the plaintiff to maintain his investment in the shopping center. The shopping center was lost at a foreclosure sale two years after the investment.

The plaintiff was seeking against the defendant client $960,000 in damages which included his initial investment, interest and court costs. The Honorable Schiavelli presided over the trial of the case which took two weeks to conclude. The court granted a defense verdict for the defendants and against the plaintiff.