Texas Jury Awards $15M Over Sham Real Estate Investment

Law360 (March 27, 2019, 9:40 PM EDT) -- A Texas federal jury on Tuesday found that several real estate investment entities conspired to defraud an investment company that was attempting to buy more than 1,000 non-performing residential home loans, and awarded the ripped-off investor nearly $15 million in damages.

After deliberating for roughly three hours following a week-and-a-half-long trial, the Houston jury returned with a verdict in favor of plaintiff SED Holdings LLC in its convoluted bankruptcy adversary proceeding against entities controlled by real estate investor Mark Hyland. SED had alleged Hyland used the now-defunct 3 Star Properties LLC to pull off a fraud in which SED paid $4.3...

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