$1.4 million judgment entererd against Riverwoods businessman

A $1.4 million judgment has been entered in Cook County circuit court against Yale Schiff, a Riverwoods man who was sued by Chicago Auto Loans, which accused him of using a scheme involving phony automobile titles to secure loans for his now defunct business, Synergy Funding Corp., according to court records. The order against Schiff and Synergy for $480,000 in compensatory damages and $960,000 in punitive damages for fraud was entered this week by Judge Brigid Mary McGrath after Schiff failed to show up for the last two hearings in the case, according to court records. Chicago attorney Randall B. Gold represented Chicago Auto Loans, which made more than $175,000 in loans to Schiff's company that were secured by 39 phony automobile titles, according to records.