Key Facts:

• Majid Torkashvand, a licensed realtor and broker, owns and operates Trust Realty Point Inc.
• In 2019, Mardani and Majid entered into a Business Partnership Agreement for investing in the stock market.
• Mardani provided $50,000 under the agreement, expecting equal profit-sharing and monthly accounting.
• Majid failed to provide accounting or engage in legitimate investment activities.
• Plaintiff alleged breach of contract and fraudulent misrepresentation, arguing that Majid never intended to fulfill the agreement.
• Plaintiff also claimed Trust Realty was a sham used to enhance Majid’s credibility.

Court Proceedings & Decision:

• The Defendants did not file a Statement of Defence despite proper service of the Statement of Claim.
• They were noted in default under Rule 19.01 of the Rules of Civil Procedure.
• Majid attended a hearing on October 23, 2024, stating he was not properly served and preferred to settle rather than engage in litigation.
• The court adjourned the matter to allow for a settlement, but no resolution was reached.
• The court found sufficient evidence to support the claims.
• Judgment:
  • $50,000 default judgment in favor of the Plaintiff.
  • $4,000 in costs awarded to the Plaintiff.
  • No punitive damages were granted.