Half-million dollar verdict obtained for fraud victim.

A local businessman was convinced to loan money in exchange for a security interest in a fine art collection.  After the loan was made, it was discovered that the art collection never existed.  The borrower turned out to be a blue-blooded con man who went to jail for swindling investors.  The borrower was sued by many of his victims.

Attorney Salinas developed a different legal strategy for his client.  He sued a financier who brokered the loan.  The financier was the trustee of a trust that purportedly held the art collection.  Attorney Salinas argued that, as a trustee, the financier had a fiduciary duty to confirm the existence of the art collection before granting a security interest in the trust.

The case was tried over three days in the Essex County Superior Court.  A jury returned a verdict awarding $570,000 to his client.


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