Broker Must Face Suit Over Bungled $25M NJ Hotel Deal

Law360, New York (March 22, 2013, 8:46 PM EDT) -- A New Jersey federal judge on Thursday refused to toss a lawsuit alleging brokerage firm Molinaro Koger Inc. defrauded a real estate investment company out of $2 million in a $25 million hotel loan deal, saying the company's fraud claims are specific enough.

Molinaro Koger had argued the lawsuit filed by CHNJ Investors didn't successfully show the firm had made intentional and negligent misrepresentations about the loan deal for the Crowne Plaza Hotel in Cherry Hill, N.J. But U.S. District Judge Jerome Simandle said the suit...
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