July 31, 2018 03:58 PM
A well-known Rochester developer is now being sued by his brother over the sale of properties, adding to the family's fallout.
According to court documents, Bob Morgan, the president of Morgan Management, is being sued by Herbert Morgan for $4,829,404 after Bob sold four apartment complexes in Texas.
The lawsuit alleges Bob sold the apartment complexes for $14,425,635 in March of this year, but he did not notify Herbert of the sales. Herbert owned 25 percent interest in the sales, according to court paperwork.
Herbert claims he was cut out of more than $4.8 million tied to the sale of the apartment complexes.
Todd Morgan, Bob's son, and Kevin Morgan, Bob's nephew, are facing fraud charges. Federal prosecutors say Todd and Kevin lied about occupancy rates in properties to banks and altered leases. Bob has not been accused of any wrongdoing in that case.
News10NBC has reached out to a representative for Bob Morgan and Morgan Management for a response to this lawsuit.
Updated: July 31, 2018 03:58 PM
Created: July 31, 2018 06:38 AM
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