Calif. Builder On Hook For Co-Partner's $1.4M Fraud Bill

Law360, New York (April 12, 2012, 7:57 PM EDT) -- A California appeals court ruled Thursday that a Berkeley, Calif., redevelopment company’s general partner could be held liable for his co-general partner’s fraud, and affirmed a $1.4 million judgment in favor of a limited partner.

The appeals court said that though James Coxeter had been cleared of wrongdoing by a jury, he is liable for co-general partner Robert Bisno’s fraud to limited partner Haldir Ltd. because at the time of the fraud, Haldir was an innocent third party looking to invest in Coxeter's and Bisno's company....
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