Burch's lawsuit against AEA denied by federal judge

Burch's Lawsuit Against AEA Denied by Federal Judge

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Phoenix, AZ- A federal judge has denied a multi-million dollar lawsuit filed by a local realtor against AEA.

The $34 million lawsuit was filed by Todd Burch's attorney in on September 22, 2011. The three counts against AEA were fraudulent misrepresentation, breach of contract, and defamation.

According to court documents, the lawsuit was originally filed in the Yuma County Superior Court. They state at the time, the Superior Court granted a motion by the National Credit Union Administration (NCUA) to substitute as the real party in interest for AEA. On December 17, 2010, NCUA assumed control of AEA's operations and placed the credit union into a conservatorship.

Court documents also say on February 1, 2012, Burch filed a temporary restraining order and a preliminary injunction in reference to three notices of lis pendens. They say the next day, AEA acquired Burch's properties at a trustee's sale.

Burch tells News 13 the ruling by a U.S. District Judge Tuesday is not stopping him from taking his lawsuit to the next level.

Burch says he will do whatever it takes until the people at AEA, he claims are responsible for his financial troubles, are held accountable.

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