Spector Gadon Atty Says Broker Fudged Developer's Assets

Law360, Philadelphia (September 11, 2012, 7:29 PM EDT) -- An attorney with Spector Gadon & Rosen PC told a federal jury Tuesday that he took Texas-based brokerage firm Southwest Securities Inc. at its word when told that a real estate developer who perpetrated a million-dollar fraud on the firm had enough assets invested to collateralize millions of dollars in loans.

In testimony before a Philadelphia jury, David Giles — a Spector Gadon attorney who represented developer Stephen Jemal in his efforts to secure loans to finance real estate development projects throughout the Northeast — said...
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