A co-founder of the Don Pan chain of bakeries and his yacht-broker son are on the hook for more than $30 million in loan guarantees after a Miami-Dade judge concluded they knew the closing agent at two condo conversions was selling units without paying Ocean Bank but never informed the lender.
Instead, Alvaro Gorrin Ramos, onetime president of Banco Canarias in Venezuela, and Alvaro Gorrin Jr. accepted a $12.3 million "buyout" from closing agent and now-disbarred attorney Frank Segredo and kept quiet, Circuit Judge Jennifer Bailey ruled after a six-day nonjury trial.
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