An arbitrator this month awarded approximately $1.34 billion to Laguna Beach businessman Mohammad Honarkar in connection with a years-long real estate dispute.
A local property owner, Honarkar was “fraudulently induced” in dealings with financier Mahender Makhijani, arbitrator David A. Thompson, a retired judge, ruled on May 12.
Makhijani, the Newport Beach real estate firm Continuum Analytics and affiliated entities, the arbitrator concluded, breached agreements around the financing of apartment complexes, hotels and additional commercial properties previously owned by Honarkar and his company, 4G Wireless, Inc.
“The arbitrator found, after a multi-week evidentiary hearing and a thorough review of the record, that the respondents fraudulently induced our clients into a joint venture, encumbered our clients’ own assets to fund the respondents’ supposed capital contribution and then…
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