Favaloro

Filed 6/30/14 Favaloro v. Compagno CA6

NOT TO BE PUBLISHED IN OFFICIAL REPORTS

California Rules of Court, rule 8.1115(a), prohibits courts and parties from citing or relying on opinions not certified for publication or ordered published, except as specified by rule 8.1115(b). This opinion has not been certified for publication or ordered published for purposes of rule 8.1115.

IN THE COURT OF APPEAL OF THE STATE OF CALIFORNIA

SIXTH APPELLATE DISTRICT

ANTHONY FAVALORO et al., H038968 (Monterey County Plaintiffs and Respondents, Super. Ct. No. M97790 )

v.

BENEDETTO JOHN COMPAGNO,

Defendant and Appellant.

Marie and Anthony Favaloro sued Benedetto John Compagno over the loss of a $200,000 investment. Compagno was an agent for an investment company known as Cedar Funding (Cedar), which financed home construction loans secured by trust deeds. Relying on the advice and representations of Compagno, a trusted friend of many years, the Favaloros put $200,000 into what they understood to be a safe investment secured by a first deed of trust. The $200,000 was lost after the property securing the investment was…