An investor in a now-bankrupt California private mortgage broker and real estate loan provider claims in a potential class action brought against Greenberg Traurig that the firm, acting as the broker’s counsel, helped hatch a fraudulent scheme that bilked the plaintiff and other investors out of some $700 million.
The complaint, filed Monday in California State Court in Alameda County by investor David Nolan, claims that broker RE Loans, LLC-a secured lender to high-end residential and commercial real estate developers-collected the $700 million in question as of early 2007.
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