A Texas jury has found Credit Suisse fraudulently enticed investors to back a $540 million loan for the Lake Las Vegas resort, only to have the borrower quickly default, Reuters reported yesterday. The jury set damages at $40 million, according to court documents filed on Friday in state court in Dallas. Zurich-based Credit Suisse was found to have used inflated appraisals to convince an affiliate of Highland Capital Management in 2007 to refinance the Nevada resort community, which sought chapter 11 protection a year later.
