NY Investor Hit With $14M Verdict Over Downtown Miami Deal

By Carolina Bolado (June 25, 2014, 8:36 PM EDT) -- A Florida jury on Monday hit New York investor Harvey Silverman and his business partners with a $14.3 million verdict for allegedly conspiring to wipe out a $5.5 million mortgage held on a downtown Miami parcel Silverman bought in 2007.

The jury awarded plaintiff 1225 8th Street Properties Inc. $5.3 million in compensatory damages and $9 million in punitive damages against Silverman, his firm Silverman Partners LP and a shell entity, Big Rock CI LLC, that he used in a deal allegedly intended to wipe out a mortgage and foreclose on the property, which lost value in the real estate crash....

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