Broker accused of stealing from Golden Triangle partners refutes claims

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1060 Bannock St., a 13,000-square-foot building, is listed for $3 million. (Justin Wingerter/BusinessDen)

Five co-owners of a small office building in Golden Triangle are accusing a sixth co-owner of using forgery, fraud and theft to rob them of hundreds of thousands of dollars.

The accused calls those allegations untrue retreads that have already been litigated.

“I guess they can keep spending money trying to prove false claims,” said John Livaditis.

Livaditis, a real estate broker, and his firm Axio Commercial Real Estate, were sued Sunday by five fellow partners in 1060 Bannock LLC, a company created in 2007 to buy, develop and manage 1060 Bannock St. That 13,000-square-foot building is listed for $3 million.

The five plaintiffs say that Livaditis, who has his real estate offices in the building, created fake documents and forged a signature in order to force out other managers of 1060 Bannock LLC and give himself sole control, then used that power for “self-dealing and theft.”

Livaditis didn’t pay Axio’s rent or parking costs for nine years, depriving his partners of $390,000, and signed both sides of a contract hiring Axio to manage the property, the lawsuit alleges. He also used 1060 Bannock funds to remodel Axio’s office, to pay for landscaping at his rental properties and to pay for repairs at his home in Wash Park, his partners allege.

The plaintiffs say they were unaware of this alleged self-dealing until 2021, when they demanded financial documents. Their case went to arbitration that same year.


John Livaditis

When shown a copy of the lawsuit this week, Livaditis said he didn’t see anything new in the allegations, which were previously addressed in arbitration from 2021 to 2023.

“I guess they didn’t like the result and are trying again, by trying to add my brokerage company to the claims,” he said, referring to Axio being named as a defendant in this week’s lawsuit. “I already spent years successfully defending (against) these false claims.”

The plaintiffs — James Sharpe, Todd McWhirter, Mike Hillegas, Dave Ness and Willie Pinkston — are represented by attorney David Olson of Olson LLC in Denver.

“To the extent there has been a previous dispute between some of the parties, the common denominator is Mr. Livaditis, and his statement about the outcome in that matter is false,” Olson said Wednesday. “There is a concerning pattern of conduct that occurred, and the plaintiffs fully anticipate that Mr. Livaditis and Axio will be held accountable.”

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