Trial is underway this week in Polk County for a lawsuit against the owner of a development and brokerage firm and other entities he owns or manages, alleging they sold property in the fast-growing western Des Moines suburbs for residential and commercial development below fair market value and inflated commission rates, causing harm to minority owners of the site.
Named as defendants in the lawsuit are William Spencer, TJK Investments LC, Wendover Reserve LLC, and Landmark Brokerage Inc. Together, they are listed as majority owners of Pavilion Park LC.
According to the lawsuit, Spencer manages TJK and owns Landmark. He is also the manager and president of Pavilion…