Dzeko Scammers Lose in Ontario Court of Appeal
The Ontario Court of Appeal has rejected the Dzeko Scammers’ appeal.
You will recall that associates of CBS Outdoor’s leasing agent, Roy Dzeko, and his best friend forever, Elio Monaco, are attempting to steal a QEW billboard lease from Ravi Banwait at 10 Wickman Road.
After this ruling, the case is now being sent back to the lower court, which will rule whether the Scammers have to allow Banwait to build his sign, or whether they merely need to pay damages to Banwait for breach of contract.
Since the Dzeko Scammers have structured their ownership of 10 Wickman Road as a numbered company encumbered by a large, recourse mortgage held by non-arms-length associates, the Scammers will argue that they merely need to pay Banwait damages. The Scammers then plan to declare bankruptcy after the numbered company is foreclosed upon and bankrupted by the mortgage holders. In this way they can obtain ownership of the sign lease without even paying Banwait damages. This is how they plan to steal Banwait’s lease under cover of law. They can only do this if they are ordered by the court to pay damages, instead of being ordered by the court to perform their obligations under the lease and allow Banwait to build the sign.
We previously covered this case in:
Scammers’ Real Estate Agent Brian Gogek Was Found Guilty of Ethical Violations in 2006
Legal Pincers Close on Dzeko Scammers
10 Wickman Road Scammers Face Million Dollar Environmental Cleanup Bill
At 10 Wickman Road, Roy Dzeko’s Men Don’t Get Away With Scamming Ravi Banwait Out of $1.3 Million.
We’ll keep you informed as the case progresses.
