Fabbio

FACTS

In 1994, Narghizian and plaintiff, cross-defendant and respondent Luciano Fabbio entered an oral joint venture agreement to buy and resell cars. The venture’s framework was that Fabbio would provide the money to buy the cars, Narghizian would do the actual buying and reselling, and profits would be divided 40 percent to Fabbio and 60 percent to Narghizian. The joint venture enterprise operated in connection with a business known as Modena Motorcars. In late 2001, the parties’ joint venture relationship came to end.2 (See Fabbio v. Narghizian (July 26, 2007, B184136) [nonpub. opn.]; see also Fabbio v. Narghizian (May 12, 2010, B209868 [nonpub. opn.].) In 2002, Fabbio filed a complaint against Narghizian, who, in turn, filed a cross- complaint against Fabbio. Each accused the other of diverting money from the parties’ joint venture. The action was tried to a jury, which returned a verdict with special interrogatory answers as follows: Narghizian committed fraud and conversion, causing $310,000 in damages to Fabbio; at all relevant times Modena Motors was solely owned by Fabbio; and Narghizian purchased real property (the “Mt. Olympus property”) with money “belonging to…