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RODRIGUEZ v. BANCO CENT. CORP.

No. 91-2220.

990 F.2d 7 (1993)

Raul F. RODRIGUEZ, et al., Plaintiffs, Appellants, v. BANCO CENTRAL CORPORATION, et al., Defendants, Appellees.

United States Court of Appeals, First Circuit.

Decided March 30, 1993.

Attorney(s) appearing for the Case

Harry E. Woods, Hato Rey, PR, with whom Fernando L. Gallardo, San Juan, PR, was on brief, for plaintiffs-appellants.

Luis Sanchez-Betances, Ivonne Cruz-Serrano, and Luis A. Melendez-Albizu, Hato Rey, PR, were on brief, for Banco Central.

Before BREYER, Chief Judge, ALDRICH, Senior Circuit Judge, and BOUDIN, Circuit Judge.

BOUDIN, Circuit Judge.

In the district court, 152 buyers of lots of undeveloped real estate in Florida charged the real estate company, the bank that financed the company, and certain individuals with securities fraud under RICO, 18 U.S.C. § 1962(c).1 Describing their land sale contracts as "securities," the buyers claimed that their purchases were induced by false representations that the land was suitable for home sites and that...

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