Kentucky Bank Found Liable For $1M+ For Its Role In Scam That Screwed Couple Out Of $800K+ In Development Deal

In Oldham County, Kentucky, the Louisville Courier Journal reports:

• An Oldham County jury has ruled that a Louisville bank must pay $1 million to $1.4 million for participating in a fraud case that cheated a Prospect couple out of more than $800,000. The ruling Tuesday is the largest fraud award in Oldham County in at least 10 years, Circuit Court Judge Karen Conrad said.
• The case dated back to 2008, when Patricia Wilhoyte and her husband Eddie, who is now deceased, sued PBI Bank on Eastpoint Parkway near Anchorage, claiming they were owed $881,835 a seven-acres off U.S. 42 near the old Melrose Inn. They had agreed to sell it to a developer who planned to build a subdivision on it.

***

• Conrad said the jury ruled that the Wilhoytes did have some fault because they had some duty to take care of their interest, so it awarded only 60 percent of the $881,835 the Wilhoyte’s were owed. However, it also awarded $881,835 in punitive damages.

For more, see PBI Bank ordered to pay $1 million in Oldham fraud case.