"...Angels to Phoenix to Lazarus Ikard, leading the charge against Bradley, has pieced together a dizzying number of financial transactions that he believes offer strong, albeit circumstantial, evidence that links Bradley to Lazarus. Ikard has developed an intricate timeline that follows Bradley on a circuitous path beginning in September 1990, when Gibraltar Savings brought a lawsuit against Bradley and partner James Gressett for defaulting on loans the pair took out to build the Circle C Ranch, and ends in July 2002, when Bradley filed for bankruptcy and claimed just $500,000 in assets..."
"...If FDIC lawyers need a road map to pursue fraud claims against Gary Bradley to collect on a $73 million debt, they would likely turn to the lawsuit that First Gibraltar Savings Bank brought against James Gressett in 1995...."
"...Beyond that issue, an equally formidable challenge would arise if the FDIC moves to object to the debt dismissal to recoup some of taxpayers' money. The feds would have to produce evidence that Bradley committed fraud in connection with $100 million in loans that he and partner James Gressett secured from Gibraltar Savings Association in 1985 to develop the Circle C Ranch -- Bradley's most visible imprint on Austin..."
"..."If this is a successful bankruptcy, then those debts will be discharged," he said. In the mid-Eighties, Bradley and his partner, James Gressett, obtained several loans to build the Circle C Ranch development in Southwest Austin..."
"...The court allowed that Bradley's sister, Kaye Bradley, may have established the trust with good intentions, but it nevertheless came to represent a "fraudulent" way of doing business for the developer and other key players. Bradley claimed he had no control or ownership of the trust's various real estate entities, and his cousin, Bradley Beutel, who managed the trust, offered supporting testimony on the witness stand, as did Bradley associates James Gressett, Jimmy Evans, and others...."
"...Before getting into the details of Bradley's latest litigation, here's a quick review of his other flirts with Lady Justice: In 1990, Bradley and James Gressett were sued by First Gibraltar Federal Savings Bank for non-payment of four loans they received from the failed Gibraltar Savings Association of Houston. The suit also sought repayment of a fifth loan, a $15 million personal note..."
"...But while Bradley was able to escape Austin, he hasn't been able to escape his debts. In 1990, he was sued by First Madison Bank, which was seeking to recover more than $100 million in development loans and $15 million in personal loans that Bradley and his partner, James Gressett, received from the failed Gibraltar Savings Association of Houston..."
"...A bridge across Town Lake extends MoPac Boulevard into South Austin.1982 Gary Bradley and his partners, James Gressett, Mitchell Sharp, and Ira Yates, buy the 2,700-acre Circle C Ranch in Southwest Austin from Polly Brooks (Yates' mother).1983 City Council approves creation of four municipal utility districts to provide water and sewage service to Circle C. Bradley agrees to terms that allow the city to begin annexing parts of the development in 10 years.1987 Legislature enacts HB 4, which bars a city from altering water quality rules once a development project has begun..."
"...Bradley did suffer a setback on the judicial front during the session. A federal judge in Houston issued a $50 million judgment against him and Circle C partner James Gressett, for loan activities prior to the company's involvement with FM Properties..."