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ELSNER v. ALBRECHT

Docket No. 111566.

185 Mich. App. 72 (1990)

460 N.W.2d 232

ELSNER v. ALBRECHT

Michigan Court of Appeals.

Decided April 25, 1990.

Attorney(s) appearing for the Case

UAW-GM Legal Services Plan (by Jennifer S. Bidwell), for plaintiffs.

Vestevich, Dritsas, McManus, Evans, Payne & Vlcko, P.C. (by William J. Lamping), for defendant.

Before: NEFF, P.J., and MacKENZIE and JANSEN, JJ.

PER CURIAM.

The present case involves two parties who were victimized by the Diamond-Obie mortgage scheme. Diamond Mortgage, ostensibly as a loan broker, arranged for a mortgage on plaintiffs' property, which was in turn funded by defendants as investors. Although Diamond Mortgage failed to disburse the funds to plaintiffs, Diamond assigned the mortgage and note to defendants for the sum of $26,500. Since plaintiffs...

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