$33.6M

Additional Notes

Murphy, Falcon & Murphy represented perennial pro-bowl defensive end Michael McCrary after he was defrauded out of millions by a group of real estate developers and investors during the development of a multi-hundred million dollar mixed-use project in New Orleans. McCrary turned to our team of attorneys to regain control of his companies and recover their operating funds, as well as money that was taken from him personally. Murphy, Falcon & Murphy moved quickly and decisively to obtain a record $33,600,000 judgment for McCrary and his companies. The majority of the trial consisted of Kenneth B. Frank’s power point presentation. In his presentation, McCrary’s attorney discussed the contemplated deal and turning 45-story high office buildings into condominiums titles Crescent City Estates. McCrary put in a total of $3.5 million for half the interest in the property. When the property was sold, he recovered his initial investment along with $2 million. The proceedings took a dramatic turn during a mid-morning break, when McCrary received an unexpected call on his cell phone from the ex-wife of Edward V. Giannasca II, McCrary’s former business partner and a defendant in the lawsuit. Minutes later, now on the courtroom speaker phone, Suzanne Giannasca claimed Edward Giannasca was preparing to leave the country with the couple’s three children. Under questioning from Alpert and McCrary’s attorney William H. “Billy” Murphy Jr., she tremulously said her ex-husband, who has joint custody of the children, has behaved similarly in the past when he “gets close to being caught.” Frank then continued to detail the methods by which Giannasca and his associate, Stuart C. “Neil” Fisher, squirreled away $12 million in insurance proceeds paid to Crescent City Estates LLC after Hurricane Katrina spoiled the development plan. Frank noted Fisher had filed suit against McCrary and filed bankruptcy on behalf of Crescent City Estates in Louisiana. “Their misuse of the judicial system across this country to wear out this plaintiff and use the legal system as a shield is unconscionable,” said Frank, calling the defendant’s conduct “outrageous” and “egregious.” To demonstrate that Fisher had behaved similarly in the past and would again in the future if not punished, Frank called Richard Bliss, a Washington, D.C. government relations attorney, who testified about his misadventures with Fisher in developing a 2,500-acre plot in Charles County in the late 1980s. Bliss said he has learned he is not the only victim of Fisher’s “typical M.O.,” but that many people do not have the wherewithal to pursue litigation. “Somebody takes your money and then uses your money to bleed you dry,” he said. Frank, however, said Wednesday’s judgment will be satisfied. “As you recall, I said I’ve got some surprises, and I do,” he said. “This money will be collected.” None of the defendants - Giannasca and Fisher, Fisher’s ex-wife Tamara J. Fisher, and entities controlled by Giannasca and Tamara Fisher - attended the trial. Neil Fisher faces arrest if he returns to Maryland; the trial judge considered issuing a warrant for Giannasca, who did not come to court sessions this week.