In 2009 I consigned a car to Russo & Steele. Since that time I have been in legal proceedings against them until now. The case has gone through arbitration (their rules) and the arbitrator with American Arbitration Assn. has ruled. The ruling is now public record in Maricopa county Arizona.
I am going to tell the readers digest version but I suggest that if you have an interest in knowing the truth in detail that you email me directly at
jdcobra427@sbcglobal.net. The actuall ruling is 28 pages and tells the entire story form a legal standing.
At the auction Russo & Steele allowed an unvetted or qualified buyer bid and purchase 16 cars totalling 1.3 million. By the end of day two or friday night they knew about his deceit and course of action which was to "kick" the cars for various reasons. All of the car owners but one were left hanging for weeks while Russo went after their commisssions but NOT the sales. One car owner was piaid for his car. The rest were told that they had to take them back which they did. When they told me this three weeks later I refused.
I went after the buyer and in the process I found out the truth of the whole thing. I filed suit against Russo for the following:
1. Failing to adequately determine buyers ability and fitness to bid on and pay for the vehicle despite representing they would.
2. Allowing the buyer to rescend the purchase on false petenses.
3. concealing and/or failing to disclose material information within a reasonable time that the buyer was unfit or unable. since they knew the very day of the sale.
4. Damaged the vehicles paint and body following the sale.
5. Placed Ruysso's interest ahead of clients interest.
6. Fraud
7. Breach of fiduciary reponsibilities.
The Arbitrator found the following( some of them)
" In light of the foregoing, the arbitrator finds that the weight of the evidence supports the conclusion that respondent breached its fiduciary duty to claiment". "And further, respondent misrepresented and concealed the true facts from the claimant."
"arbitrator further finds that the clear and convincing evidence supports that the repondent misrepresented ( fraud) the true facts to cliamant as what had transpired with his vehicle at the auction, its services with respect to its agency relationship with claimant and continues to conceal and fail to disclose acts and events following the auction(a fraud)"
"The arbitrator finds that the claimants evidence satisfies the requisite elements of common law fraud".
"The arbitrator finds the repondent to have breached the consignment agreement with claimant and the related duties owed to its principle, to have made representations to claimant and concealed or failed to disclose material information to claimant and, in those matters, committed fraud against claimant as its principle".
Sorry for the length but is was a 2 1/2 year battle. The actual 28 pages is much better reading.
Needless to say, BEWARE
Jay
Russo & Steele Fraud and Breach case
Threaded Mode
