21-year-old property dispute between 5 Gujarati brothers in US, one brother has to pay 20,000 crores to the remaining four


Jogani vs Jogani Case in US | Five brothers of Gujarati origin are currently in discussion in America. A US court delivered a historic verdict in a 21-year-old legal case between them. Although the five brothers had made huge fortunes in diamonds in America and real estate in Los Angeles, there was an incident that broke up the pair of five brothers and the matter reached the court.

The case was stuck in court for 21 years

The dispute between the five brothers was stuck in court for 21 years. Now a verdict has come on him which is being considered as one of the biggest verdicts in decades. The names of these five brothers are Haresh Jogani, Shashikant, Rajesh, Chetan and Shailesh Jogani. One of these five brothers, Haresh Jogani, has been ordered by the US court to pay 2.5 billion dollars i.e. more than 20000 crores compensation to his remaining four brothers and share the shares of the Southern California property among themselves. The value of this property itself is about more than 17000 billion.

How to start diamond business

You may also be wondering why Haresh was ordered to pay this compensation? So know that Haresh was accused of breaking the long standing partnership with his brothers. Where did it all begin? So let's find out..... The Jogani family, originally from Gujarat, India, built outposts for the diamond business in Europe, Africa, the Middle East and North America. According to a complaint filed in 2003, Shashikant alias Shashi Jogani left for California in 1969 at the age of 22. Where he started a solo firm of James Business and started building a property portfolio.

First the recession and then the peak of success

Assets were damaged during the recession of the early 1990s, and conditions worsened after the 1994 Northridge earthquake. After 16 people were killed in one of their buildings, Shashi had to partner with his brothers. The firm then embarked on a buying spree that eventually built up a portfolio of around 17,000 apartments with the brothers' collaboration. All was going well but things turned sour when Haresh forced his brother out of the firm's management and refused to give up his share.

The brothers gave this reasoning in the court

Although Haresh Jogani argued that without a written agreement his brother could not prove that there was a partnership between them, the jury after hearing witnesses found that Haresh had breached the contract verbally. When the case was about to end, Haresh Jogani sought disqualification of the judge, accusing him of sexual animosity towards the lawyer. Judge Susan Bryant-Deason dismissed the charges last week.

How much participation by whom?

The jury awarded brothers Chetan and Rajesh $165 million in Haresh's breach of diamond partnership. Also, Shashin was awarded $1.8 billion, Chetan $234 million and Rajesh $360 million for breach of real estate partnership.

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