Lake Forest: Lake Forest-based WIN TIME, LTD. has won a $1.4 million award against NCRS, Inc. of Anaheim. The decision by Arbitrator Charles W. Froehlich, Jr., a former Justice of the Court of Appeals, found that NCRS, Inc., and its President, Satish Patel, deliberately falsified documents and misrepresented material facts concerning its sale of a Super 8 Motel to Win Time.
Daniel J. Callahan of Callahan & Blaine, represented Win Time, Ltd. in this extraordinary real estate fraud case. NCRS, Inc. owned a Super 8 Motel which it sold to Win Time. During the sale, NCRS' President, Satish Patel, falsified sales documents and promissory notes concerning existing motel obligations. Patel did this by deleting key paragraphs of certain contracts and telling Win Time that the altered contracts were accurate. Patel also overstated the income of the motel and falsified financial statements, tax returns, and checks. Patel overstated the income of the motel by some 400%.
Mr. Callahan stated that the Arbitrator found that the value of the motel was $850,000 less than Patel had promised. The Arbitrator also decided that NCRS and Patel were obligated to pay an additional $465,000 in consequential damages, plus $90,000 in attorneys' fees to Win Time. Mr. Callahan also disclosed that the Arbitrator ordered NCRS to return $200,000 to Win Time-- $200,000 which had been held in an escrow account originally for the benefit of NCRS. The Arbitrator decided that NCRS was not entitled to retain the escrowed funds.Contact Us To Speak With A Trial Attorney Today