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{"id":13708,"date":"2014-10-22T11:36:22","date_gmt":"2014-10-22T11:36:22","guid":{"rendered":"http:\/\/www.seonewswire.net\/2014\/10\/texas-billionaire-sues-real-estate-company-for-fraud-over-unpaid-loans\/"},"modified":"2014-10-22T11:36:22","modified_gmt":"2014-10-22T11:36:22","slug":"texas-billionaire-sues-real-estate-company-for-fraud-over-unpaid-loans","status":"publish","type":"post","link":"http:\/\/www.seonewswire.net\/2014\/10\/texas-billionaire-sues-real-estate-company-for-fraud-over-unpaid-loans\/","title":{"rendered":"Texas billionaire sues real estate company for fraud over unpaid loans"},"content":{"rendered":"

Energy magnate T. Boone Pickens has filed a lawsuit in Texas state court against realtor Gannon Properties and its affiliates, accusing the company and its principal of fraud over $4.1 million in unpaid loans.<\/p>\n

According to the lawsuit, Pickens won a previous case against Gannon and its principal, William Franke, over two unpaid promissory notes amounting to $4.1 million. The current lawsuit accuses Franke of improperly transferring portions of the company to his wife through other entities, in what the suits claims was an attempt to avoid paying the debt.<\/p>\n

The lawsuit alleges violations of the Uniform Fraudulent Transfers Act, conspiracy and tortious interference with contract.<\/p>\n

The lawsuit claims that the original promissory notes were issued by PlainsCapital Bank to Gannon Joint Venture LP, and that Pickens purchased the loan in 2013. After a repayment dispute, Pickens won a lawsuit against Gannon. <\/p>\n

According to the current suit, six months after the ruling in Pickens’ (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Energy magnate T. Boone Pickens has filed a lawsuit in Texas state court against realtor Gannon Properties and its affiliates, accusing the company and its principal of fraud over $4.1 million in unpaid loans. According to the lawsuit, Pickens won…<\/span><\/p>\n

Read more ›<\/a><\/div>\n

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