Facebook founder faces trial over fraud in a real estate case in Palo Alto.
The chief executive officer of Facebook Inc., Mark Zuckerberg, is likely to face a trial that encompasses fraud charges regarding real estate close to his residence at Palo Alto. The case material was acquired by a reputable analytics platform, where Mr. Zuckerberg used his influence to slash the price of the property. Moreover, he bought the property and later breached the contract details. Mr. Mircea Voskerician is said to be the plaintiff of the lawsuit who is a known name in the real estate world of Palo Alto. The job of Mr. Voskerician is to buy the local property, modify it, and later sell it to buyers and sellers locally. Currently the property in question is Hamilton Avenue that was under his ownership. This property is sharing the boundaries with Facebook’s executive’s house along with an extra 2600 sq. feet. Like a good neighbor, when the expansion plan was being carried out, he asked the social media giant to give an explanation. Later he even asked to sell the property to him. When a realtor approached the real estate giant, he was immediately offered to sell out the space to Mr. Zuckerberg along with the remaining property. Mr. voskerician did not respond immediately but took time to consider the offer. During this time, another party approached the developer and offered to buy the property for $4.3 million. However, social network’s founder made an offer of only $1.7 million, which was far below the offer made by the other party. Now he started to use his sources to pressurize the developer. The deal was done and the property belongs to the Facebook's CEO. Soon after the expansion continued and all the properties in the local area were bought by Mr. Zuckerberg to ensure his privacy but the promises with the developer were never fulfilled. According to Mr. Divesh Makan, his financial advisor, stated, “it would be wherever [Zuckerberg] wants though the [Facebook] office is ideal. We are trying to “wow” these schmucks so they will accept an offer for the home that is reasonable. The plan is to have [Zuckerberg] spend 15 minutes with them, make them feel special, etc. Perhaps you can prepare two goody bags as well.” No response has been observed from the plaintiff and rumors suggest that the Mr. Voskerician’s lawyer has resigned from the case due to personal conflicts. The case is likely to be moved to another day.
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