Suzy Asad v ProEquities Inc., Mamdoh Aziz Abas
Published: May 25, 2013 | Result Date: May 14, 2013 | Filing Date: Jan. 1, 1900 |Case number: 12-01167 Arbitration – $448,562
Court
FINRA
Attorneys
Claimant
Brian D. Miller
(Miller & Milove)
Respondent
Brandon S. Reif
(Reif Law Group PC)
Facts
Suzy Asad alleged that the respondents made misrepresentations in connection with the Northgate Blackhawk TIC investment, that it was not suitable for any retail investor and in any event not suitable for claimant.
The real estate investment was lost to foreclosure in 2012. Claimant's experts were Craig McCann, Sheldon Derezin and Mason Dinehart.
Damages
Asad sought $499,365 in damages.
Result
The arbitration panel found that the respondents were jointly and severally liable to Asad for $379,424 plus 7 percent interest on that amount for five years and three months. The panel also awarded Asad $68,838 in costs and $300 as reimbursement for Asad's initial filing fee.
Other Information
ARBITRATORS: Robert A. Merring, Richard M. Norman and Robert B. Moran.
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