$98M BBVA Compass Bank Fraud Verdict Inducted in VerdictSearch Hall of Fame
A $98 million verdict secured by Boyd, Powers & Williamson has been inducted into the VerdictSearch Texas Verdicts Hall of Fame.
In reaching the December 2017 verdict, a Dallas County jury found that BBVA Compass Bank and one of its executives had committed fraud during loan renewal and modification negotiations with a developer of three luxury subdivisions in northeast Tarrant County following the 2008 financial crisis.
Lead trial attorney Derrick Boyd presented evidence, including email correspondence, showing that the bank executive had been actively working to sell the properties while simultaneously promising developer David Bagwell that the bank was not selling the loans and intended to extend his loan.
A $96.2 million final judgment in the case in 2018 preserved all but one portion of the verdict and added pre- and post-verdict interest.
