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Facebook CEO Mark Zuckerberg to Face Charges for Real Estate Fraud

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Facebook’s CEO,  Mark Zuckerberg, is scheduled to face trial for an alleged real estate fraud filed by real estate developer Mircea Voskerician.

The allegations state that the social media tycoon used his influence to lure Voskerician into selling him the property near his home in 1457 Hamilton Avenue for a much lower price.

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The property in question shares borders with Zuckerberg’s home with an extra 2, 600 square feet. Voskerician contacted Zuckerberg to give him details about the plans of expansion and has offered the Facebook CEO the aforementioned property, to buy the extra 2, 600 space in his background to serve as a buffer space to protect the billionaire’s privacy.

Zuckerberg has agreed to purchase not only the extra space but the whole of the property and has set a meeting to discuss about the deal. During that time, the property also gained another prospective buyer and has offered $4.3 million for the land.

In a meeting between Zuckerberg and Voskerician held last Dec. 4, 2012, Zuckerberg offered $1.7 million for the property and promised that he would introduce the real estate developer to his friends, clients, and associates. Zuckerberg also offered to promote the real estate business of Voskerician by providing him with referrals and written references.

Voskerician folded for the much lower price offered by Zuckerberg, rather than the $4.3 million, in the hopes of gaining personal referrals and business promotion activities from Facebook’s CEO.

Voskerician contacted Zuckerberg throughout 2013 to have the social media tycoon meet his end of the bargain but all his attempt to contact him has failed.

In May 2, 2014, Voskerician initiated and filed a lawsuit against Zuckerberg, SFRP, Makan, Iconiq Capital, LLC (Makan’s business entity), and Kerwin for the following: (1) promissory fraud; (2) intentional misrepresentation; (3) rescission; (4) breach of contract; and (5) conspiracy to commit fraud.

The full details regarding the case can be viewed in The Superior Court, State Of California Online Services.


This article was first published at Realty Today



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