Published On: Wed, Mar 16th, 2016

Mark Zuckerberg Settles Real Estate fraud Lawsuit For No Payout

Mark Zuckerberg's palo alto home

Mircea Voskerician, the real estate developer who sued Mark Zuckerberg in 2014 over property deal, agreed to drop the case in exchange for only a guarantee that Zuckerberg won’t sue him.

In a fraud lawsuit against the Facebook founder contending the CEO agreed to purchase the developer rights to a parcel near Zuckerberg’s home in Silicon Valley, California. Voskerician claimed the billionair agreed to introduce him to friends who could promote his real estate business, but failed to do so.

In court documents Zuckerberg claimed that Voskerician aimed to build a large mansion on the parcel, but asked to be paid millions of dollars for “privacy consideration.”

The swift end on Tuesday, comes six weeks before the Zuckerberg would have had to explain his version of events to court.

In a statement Patrick Gunn, an attorney for Zuckerberg, said that evidence in the case showed Voskerician relied on doctored evidence to support his claims. “We are pleased this years-long harassment has come to an end and that plaintiff will see no financial gain from his misconduct, ” Gunn said.

Attorney for Voskerician who joined the case in January said: “Upon careful reflection we determined that this case should be resolved, ” said “We are pleased that the parties have been able to bring an end to this litigation.”

JBN staff with Reuters

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