Investors' Suit Seeking $50M Over Real Estate Fraud Revived
By Todd Hutchinson (January 4, 2019, 7:49 PM EST) -- A Texas appeals court on Tuesday revived Renate Nixdorf GmbH & Co. and Watercrest Partners LP's suit seeking nearly $50 million from lost real estate investments, saying the trial court erred when it dismissed claims that the money had been hidden from them in sham companies in order to avoid payouts.
The Fifth Court of Appeals said Nixdorf and Watercrest's allegations were plausible that once-prominent Dallas realtors W. Eric Brauss and his ex-wife Christine Martin had hidden money they owed former investors by moving it through a web of sham companies — TRA Midland Properties LLC, Pillar Income Asset Management, TRA...
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