Fei v. Wang CA4/9
Li loaned money to Wang to purchase a home in the San Francisco Bay Area. Wang failed to record a security interest in the home in favor of Li, sold the home during the pendency of this litigation, and transferred proceeds from the sale to foreign bank accounts. The trial court entered judgment in favor of plaintiff Lanlan Fei (the assignee of Li’s interest in the loan) for breach of contract, fraudulent conveyance, and unjust enrichment against Wang, Wang’s wife (Bin He), and a company formed by the couple. Plaintiff was awarded $2,870,050 in damages, plus pre- and post-judgment interest. Defendants challenge the judgment as to fraudulent conveyance and damages for unjust enrichment. Wang also challenges the rejection of his cross-claim for breach of contract. For the reasons stated here, we will affirm the judgment.
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