Philly Investors Say Scheme Cost Them $400M Hotel Project

Law360, Philadelphia (March 14, 2013, 4:27 PM ET) -- The court-appointed receiver for a Philadelphia investment partnership sued Brook Lenfest, the former head of the group, in state court Thursday, alleging he had squeezed the other members of the partnership out of a $400 million downtown hotel project.

Devin Lamm, the receiver for Mariner Chestnut Partners LP contended that Lenfest, son of prominent Philadelphia businessman and philanthropist H.F. "Gerry" Lenfest, schemed to auction off a vacant lot owned by the group solely to himself while failing to disclose that he had already secured deals with...
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