Details: Claude Dorsy sued his former business partner, Irwin Raskin, claiming Raskin breached his fiduciary duty when a bulk sale of 279 property lots years later turned into individual lot sales worth more than double.
Plaintiff’s case: Raskin bought 200 lots with infrastructure in place and 79 undeveloped lots in Sebring in 1989. Raskin loaned Dorsy $140,000 to buy into Golf View Development Inc. and received a promissory note. Raskin was in charge of development and invested about $2 million before selling the property in bulk for $2.5 million in 2004.
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