tyroneweaver
Platinum Member
The lawsuit alleges that Doyle was given “fraudulently inflated valuations” of the townhouse, putting its market value at over $80 million. Dr. Cahill and the Society’s current President-General, James Normile, “made representations to [Doyle] that the building had ‘air rights’ and could be built, or rebuilt, higher than its current height.
“In reality, there were no ‘air rights’ and the actual value is closer to $20 million. [The Society] made a gross over-valuation” of the townhouse, which induced Doyle to make the $3 million loan.
