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July 1, 2001 | From Times Wire Reports
A judge has upheld a $6.6-million civil verdict against developer John Price, President Bush's nominee for ambassador to Mauritius. Price Development Co. was accused of offering stock worth $6,160 to a couple for their 15% interest in a New Mexico mall worth $15 million. A jury in April found that Price's company acted with "wanton and reckless disregard" and violated its fiduciary duty. Price's appointment still awaits Senate confirmation.
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July 1, 2001 | From Times Wire Reports
A judge has upheld a $6.6-million civil verdict against developer John Price, President Bush's nominee for ambassador to Mauritius. Price Development Co. was accused of offering stock worth $6,160 to a couple for their 15% interest in a New Mexico mall worth $15 million. A jury in April found that Price's company acted with "wanton and reckless disregard" and violated its fiduciary duty. Price's appointment still awaits Senate confirmation.
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