D. Penguin Brothers Ltd. v. City National Bank

SUMMARY ORDER

Plaintiffs-Appellants are two real estate developers, Pete Jacov and Avraham Glattman, and multiple corporations and limited liability companies co-owned by them (collectively, “plaintiffs”). Plaintiffs allege that defendants David Spiegelman— their former attorney — and James Williams defrauded them by inducing their investment of approximately six million dollars in touted real estate projects that, as time revealed, were fictitious. After plaintiffs deposited their “investment” funds for these projects in escrow accounts maintained by Spiegelman, Spiegelman and Williams…