A series of lawsuits in Tennessee that include Chris Isaak as plaintiff allege a homebuilder played a nefarious game of fraud that totaled millions of dollars in defrauding his business partners and lenders.
In one lawsuit, Brian Layton, who owns Britt Development, is accused, among other things, of forging Isaac’s signature to obtain loans related to Nashville properties. some limited liability companies, nashville post report.
The suit says the parties initially planned to develop the properties they acquired. Instead of using the funds for property development, Layton and his wife Sarah took a $4 million loan against the property for personal use.
According to the lawsuit, Layton then essentially stole the properties by giving up claiming them to a separate limited liability company,
“After stealing millions of dollars, land and homes, Sarah Leighton then helped Brian Leighton move the stolen funds through a network of shell companies to hide their ill-gotten gains,” the website states brianlaytonnashville.comwhich was set up by Nashville attorney Brian Manookian to record lawsuits.
“It is clear to me that Layton has been … diverting funds, loans and construction materials belonging to new investors to earlier stalled projects,” Manookian wrote in an email to the Nashville Post. “I don’t understand that Layton intends to perpetuate the $30 million+ scam. I think the guy is crazy, panicked, and starts taking on new investors and [allegedly] falsification of loan documents. A dozen pending lawsuits illustrate the point. ”
Fraud allegations are nothing new in real estate.
in florida, Coconut Grove developer Doug Cox charged According to the complaint, the homebuyers suffered losses totaling tens of millions of dollars as a result of gross negligence and willful misconduct, fraud and civil conspiracy. According to the suit, Cox failed to complete construction on the home, failed to pay debts and sold the same property to multiple buyers.
— Ted Glazer