![]() ![]() ![]() The trial court granted summary judgment, concluding no triable issue of fact existed that the lender was in cahoots with the Ponzi operators, nor was the lender liable under any other theory. When one perpetrator's bankruptcy and a Securities and Exchange Commission investigation effectively eliminated suit against the schemers, the borrowers here sued their lender on various common law theories, asserting generally the lender had made a loan the lender knew the borrowers could not repay. ![]() The debris in this case included an old fashioned Ponzi scheme. The collapse of much of our country's home lending market over the last decade produced rubble of varying compositions. Gerlt-Ferraro for Defendants and Respondents. BC450293) APPEAL from a judgment of the Superior Court of Los Angeles County. This opinion has not been certified for publication or ordered published for purposes of rule 8.1115. NOT TO BE PUBLISHED IN THE OFFICIAL REPORTSĬalifornia Rules of Court, rule 8.1115(a), prohibits courts and parties from citing or relying on opinions not certified for publication or ordered published, except as specified by rule 8.1115(b). ![]()
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