Fabbio v. Narghizian
The dispute leading to this appeal involved a business venture operated by Zareh Narghizian and Luciano Fabbio where luxury automobiles were purchased by the business and then sold. In a complaint by respondent Fabbio against appellants Zareh and Aida Narghizian and a cross complaint filed by the Narghizians against Fabbio, the parties accused each other of diverting profits and essentially cheating each other. The jury awarded $310,000 in compensatory damages and $290,000 in punitive damages to Fabbio for Zarehs fraud and conversion in taking Fabbios money in 2001 and using it as partial payment on an unimproved lot on Mt. Olympus in Los Angeles. The trial court denied the Narghizians an accounting of the business affairs; granted a directed verdict in favor of Fabbio on the cross complaint; and imposed a constructive trust in favor of Fabbio on the real property purchased by the Narghizians aided by a third party (Amirvand), in part with the diverted funds. The Narghizians were ordered to provide a grant deed as well as a quitclaim deed to Fabbio. The Narghizians appeal the judgment and the order. Court affirm the award of compensatory damages and imposition of constructive trust on the Mt. Olympus property; reverse the award of punitive damages, the failure to order an accounting, and the directed verdict on the cross complaint; and remand to the trial court for further proceedings.
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