In re Simon S Chan, Bankruptcy Case 18-40217, Judge Charles Novack

I. BACKGROUND

26 The January 24, 2018 Statement of Decision 27 1 On March 28, 2014, the Frazer Creditors sued Appellant in California Superior Court for the County of Contra Costa and alleged that Appellant defrauded the Frazer Creditors in connection with a real estate investment venture in Beijing, China. Bankruptcy Trustee’s ER 73– 90; see also Chan v. Frazer, 620 B.R. 106, 108 (N.D. Cal. 2020). According to the Frazer Creditors, Appellant received funds from the Frazer Creditors but never provided an accounting or any records regarding these funds. Bankruptcy Trustee’s ER at 77–78. Instead, Appellant deposited the funds into his personal bank accounts and placed title to the condominium units in his name. Id. The Frazer Creditors claimed that Appellant concealed this information and made misrepresentations about the status of the investments. Id. at 77–78, 84–85. As a result, the Frazer Creditors alleged causes of action for intentional fraud and deceit, negligent misrepresentation, breach of fiduciary duty, unfair business practice, and unjust enrichment. Id. at 80. On January 24, 2018, following a bench trial,…