Tyler v. Haro CA1/1
Plaintiffs Fletcher Tyler, Nancy Tyler, and Kalyani Patel (collectively plaintiffs) filed suit against defendant James T. Haro, a real estate agent and mortgage loan broker, and Alamo Mortgage Corporation (Alamo), alleging Haro fraudulently induced plaintiffs to loan him and Alamo substantial sums of money as “bridge loans,” when in fact Haro used the funds to invest in a risky real estate venture. The loans were never repaid. After a bench trial, the trial court found in plaintiffs’ favor on causes of action for breach of fiduciary duty, intentional misrepresentation, and concealment.
Haro contends the trial court erred in applying the wrong legal standard to resolve plaintiffs’ breach of fiduciary duty claim, and alternatively, the evidence did not support the trial court’s finding Haro owed plaintiffs a fiduciary duty.
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