California Real Estate Fraud Report

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New Lawsuit against Del Biaggio

San Jose investor William “Boots” Del Biaggio III has been named in a new lawsuit, filed by Modern Bank of New York, which accuses Del Biaggio of scamming the bank out of $10 million so that he could purchase an interest in the Nashville Predators hockey team.

The lawsuit, also filed in Santa Clara County’s Superior Court (see article below), names Del Biaggio and his wife Kristen, San Francisco investment bank and securities broker Merriman Curhan Ford and one of its managing directors David Scott Caccione as defendants.

As with the previous lawsuit, Del Biaggio is accused of executing the $10 million loan agreement using as collateral an account held at Merriman that he claimed had a balance of $20 million in money market funds. Modern Bank claims that the collateral never belonged to the Del Biaggios and that the loan in fact was procured by fraud.

Read the Full Article by Pete Carey in The San Jose Mercury News

© Copyright 2007-2018 Monique Bryher

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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