Gangadean v. FLORI INVESTMENT COMPANY

JACOBSON, Judge.

In this appeal from the Superior Court of Maricopa County, defendants in a foreclosure action seek to establish that a loan made to a corporation was in fact made to them as individuals and is therefore usurious.

Plaintiff-appellee, Flori Investment Company brought suit against defendants-appellants, Deonarine W. Gangadean and Vishnudevi Gangadean, his wife, and Dewan’s Beauty Products Co., Inc., an Arizona corporation, to collect sums due under a promissory note in the sum of $100,000.00 and to foreclose a realty mortgage securing the same. Judgment was entered by the trial…