"The suit filed this past December in U.S. District Court in Minnesota alleged violations of the Racketeer Influenced and Corrupt Organizations (RICO) Act and the Lanham Act. Plaintiffs claimed they were misled in a $3.3 million home sale in Deephaven, a Minneapolis suburb. Their complaint alleged that Coldwell Banker, its agents and executives, and other firms conspired to forge documents, conceal missing earnest money and manipulate escrow records."
"At the center of the dispute was an all-cash offer submitted through a shell company Fairways and Greens LLC by buyers Jesse and Lee Bull, represented by broker Joel Burger of Wexford Real Estate. The Campolis alleged the Bulls failed to provide a $100,000 earnest money deposit and then produced falsified paperwork to show otherwise. Coldwell Banker was accused of going as far as placing $100,000 of its own funds in escrow to create the impression the buyers had fulfilled their obligation."
"The plaintiffs also alleged the company and its staff breached fiduciary duties by prioritizing commissions over clients' interests and by participating in what they described as a coordinated scheme. In addition to Anywhere, Coldwell Banker and Wexford Real Estate, the suit named a broad slate of defendants, including Burnet Title, TrustFunds LLC, Northstar MLS, TitleNexus, UBS Financial Services, UBS Bank, UMB Bank and several executives at those companies."
Lawsuit filed in U.S. District Court in Minnesota alleges RICO and Lanham Act violations arising from a $3.3 million Deephaven home sale. Plaintiffs say an all-cash offer through shell company Fairways and Greens LLC by buyers Jesse and Lee Bull, represented by broker Joel Burger, lacked a $100,000 earnest money deposit and relied on falsified paperwork. Coldwell Banker is accused of placing $100,000 of its own funds in escrow to simulate compliance. Plaintiffs allege agents and executives conspired to forge documents, conceal missing earnest money, manipulate escrow records, and breached fiduciary duties by prioritizing commissions. The suit names numerous firms and executives and asserts Lanham Act claims for misleading advertising.
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