Adassa Walker v. Ticor Title Co.

—Plaintiffs sued defendant Ticor Title Company of California (Ticor) and several other defendants on allegations they participated in a conspiracy to fraudulently induce plaintiffs to take out real estate refinancing loans. The fraudulent acts were committed largely by a single defendant, Altai Shaikh, known to plaintiffs as “Zak Khan” (Khan), acting as agent for a mortgage brokerage firm. With respect to the claims involved in this appeal, those alleged against Ticor, the trial court granted summary adjudication on a claim of aiding and abetting the fraud, and the case proceeded to trial on claims of breach of contract and fiduciary duty. Plaintiffs presented evidence that Ticor, which acted as escrow holder for the loan closings, facilitated Khan’s fraud by permitting him to obtain the borrowers’ signatures on the loan documents, rather than requiring the signings to occur under Ticor’s supervision. With a minor exception, the jury found in Ticor’s favor.

Plaintiffs contend the jury’s verdicts were not supported by the evidence and the trial court erred in granting summary adjudication of their claim for aiding and abetting the fraud. In a cross-appeal, Ticor contends…