Kaufman & Forman, P.C.
Call to arrange a consultation
678-957-7769 | 770-390-9200
Contact Us
practice areas

Ten business owners claim fraud over dashed American dreams

A sprawling case of alleged fraud, breach of contract, accusations and counter-accusations now ties Nevada in the West to our very own Georgia. A property-management company is at the eye of the storm, having been accused of a raft of commercial malpractices, including fraud. Many of the victims involved, who were allegedly defrauded of considerable sums, including their life savings, are recent immigrants to our country.

The saga includes the company (Piedmont Fields: a Macon-based property management firm that administers a number of local convenience stores), buyers, owners and lenders. It encompasses lawsuits in two jurisdictions, a countersuit, and two criminal complaints. In a merry-go-round of blame, buyers are alleging malpractice on the part of the property-management company and in turn have made accusations against its previous clients and also the lender. Even the owners and sellers of the convenience stores have found it necessary to deflect blame.

According to court documents and interviews of the parties, about ten interested buyers made deposits totaling $700,000 with the property-management company toward the end goal of buying convenience stores. The company brought in a lender to arrange loans for the buyers. However, the two (the property management company and the lender) allegedly missed the closing dates and the sellers/owners of the properties eventually walked out on the deal, leaving buyers who had forked out earnest money deposits to the middleman, high and dry. Most of the buyers have attempted to get refunds from the company but only two were successful.

One telling fact emerged from the drama: the man behind the property-management company allegedly has a 'past'. Only a year ago he filed for bankruptcy with over $30 million in unpaid liabilities. It is equally telling that the lender was hit with a $1.8 million judgment in a separate case this very year. Further, the two allied companies had suffered a revocation of their licenses four years ago. Scant consolation for the immigrant victims, these facts perhaps indicate the direction where blame may truly lie.

In commercial litigation as complex and intricate as this, multiple lawyers may well be needed to untangle the mess. To pursue their quest for justice, the allegedly defrauded buyers in Georgia may wish to consider the services of business and commercial law attorneys.

Source: Macon, "Macon property company in nasty court battle after deal goes bad," Rodney Manley, Aug. 21, 2011

No Comments

Leave a comment
Comment Information

Contact Kaufman & Forman, P.C. Now

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

get Legal Help Now

Kaufman & Forman, P.C.
8215 Roswell Road
Building 800
Atlanta, GA 30350

Toll Free: 800-461-5864
Phone: 678-957-7769
Fax: 770-395-6720
Atlanta Law Office Map

Review Us

Robert Kaufman has been selected as a 2013 Top Rated Lawyer in ‘Commercial Litigation’ as will be published in the May issue of The American Lawyer & Corporate Counsel magazine.Alex Kaufman has been selected as a 2013 Top Rated Lawyer in ‘Commercial Litigation’ as will be published in the December issue of The American Lawyer & Corporate Counsel magazine.

*AV Preeminent and BV Distinguished are certification marks of Reed Elsevier Properties Inc., used in accordance with the Martindale-Hubbell certification procedures, standards and policies. Martindale-Hubbell is the facilitator of a peer review rating process. Ratings reflect the confidential opinions of members of the bar and the judiciary. Martindale-Hubbell ratings fall into two categories: legal ability and general ethical standards.