The founders of a well-known development company in Tucson are in hot water after an arbitrator found they defrauded an investor.
And that’s not the end of the legal woes for the founders of the Gadsden Company. They are now facing two separate lawsuits alleging they committed fraud.
In both cases, investment companies allege in Pima County Superior Court they were defrauded by Gadsden Company founders Adam Weinstein and Gerald Dixon, and the companies they control. The lawsuits allege Weinstein and Dixon failed to contribute the agreed-upon assets to two different apartment developments, while still retaining majority control of the businesses…