Anmol Seth, falsely representing himself to Auckland’s Hindu community as Lord Anmol, was ordered to refund $239,320 to Mirza Taimoori, money advanced for a property development which never took place.
On social media, Mr Seth presented himself as a successful business man with interests in hotels and resorts. His Facebook page was replete with images of expensive cars and a private jet.
The High Court was told he invited Mr Taimoori to take part in a joint venture for the development of Mr Taimoori’s property in Gray Avenue, Papatoetoe south Auckland. The deal involved sale of Gray Avenue to Anmol Residential Ltd, a company controlled by Mr Seth. Mr Taimoori was to put in $300,000 cash; Mr Seth to manage development of the site into three properties. Mr Taimoori did not have the ready cash; Mr Seth steered him towards his own legal advisers who arranged a loan for Mr Taimoori. Other than Mr Seth getting resource consent for the proposed subdivision, little progress was made over the next three years. Evidence was given of progressively more desperate requests by Mr Taimoori for news about progress, all of which were fobbed off by Mr Seth. Anmol Residential went into liquidation in October 2108.
Mr Taimoori sued. Mr Seth said all cash had been used in payment of stage one preparatory expenses. Invoices were produced, many with critical details blacked out; to protect the identity of those providing services, Mr Seth said. After the originals were later produced in court, Justice Downs found the larger sums claimed related to entirely different property developments Mr Seth was involved in and that the largest claimed invoice for $138,000 was a complete fabrication. Justice Downs ordered details of the forgery be passed on to police.
Mr Taimoori was awarded damages of $239,320; the money he had advanced less some minor payments returned by Mr Seth when Mr Taimoori needed funds for household expenses. Mr Seth was in breach of a fiduciary duty owed Mr Taimoori, Justice Downs ruled. Mr Seth held himself out as a business adviser and successful property developer, took complete control of the development, used his own legal advisers to set up Mr Taimoori’s cash contribution; all the while promising the money would be used solely to redevelop Gray Avenue.
Taimoori v. Anmol Residential Ltd & Seth – High Court (18.03.21)
21.055