Callahan v. Holsman

The complaint in this case charged that certain defendants, other than appellants, promoted and created what is called a “Mutual Development Trust”; that they sold beneficial interests therein to plaintiffs and others, and thereafter fraudulently caused to be executed a second mortgage trust deed on the trust property, to secure a note for $80,000 issued to themselves, and sold and transferred the same to defendants Samuel L. Rosenblatt and Joseph G. Engert, hereinafter referred to as appellants. The only charge against appellants is that they knew “that the execution of the purported second…