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LaSalle Hotel Properties is spending upward of $300 million to buy three hotels, while shedding a fourth.

The Bethesda company paid $145.0 million for the 294-room Westin Philadelphia; $79.0 million for the 288-suite Embassy Suites Philadelphia-Center City and $68.5 million for the 201-room Hotel Monaco San Francisco.

Meanwhile, it sold the Seaview Resort in Galloway, N.J., for $20.0 million.

The purchases were funded with loans, plus cash from operations and sales of stock and the Seaview.

Shulman Rogers wins TARP contract

Shulman Rogers Gandal Pordy & Ecker of Potomac was one of 11 U.S. law firms to win a Treasury Department contract to provide legal services for the Troubled Asset Relief Program.

The contracts are worth a total of $99 million during the next five years, according to a statement from the firm. The contract was awarded based on the firm's expertise in equity investments, debt transactions, bankruptcy, real estate and other TARP-related issues, plus its experience in government contracts.

"We are included among a very prestigious group of firms, making our selection even more impressive," said firm founder Lawrence A. Shulman. More than 100 law firms competed for the contracts.

Reality is, judge dismisses TV chef's $17M claims

A Prince George's County Circuit Court judge dismissed claims of fraud in a lawsuit filed by a television chef who demanded a National Harbor contractor pay him more than $17 million for income lost after a botched business deal.

The case stems from a petition filed in December, when Timothy Dean of Baltimore, a contestant on the Bravo network show "Top Chef," sued Ron Adolph, a National Harbor minority-business consultant, claiming Adolph tried to monopolize a restaurant that would have been owned jointly by the two and then reneged on the development deal, causing the project to fall through.

The judgment, issued Aug. 20 by Judge Maureen M. Lamasney, cleared Adolph of the fraud claims. Adolph will still be held accountable for Dean's allegations in the same suit of a breach of contract, a claim Adolph tried to have dismissed. Unless an out-of-court settlement is reached, the breach-of-contract claim will head to a civil trial in the county's circuit court.

While Lamasney struck down the fraud claim, she allowed it to be resubmitted if the case goes to trial and gave Adolph 30 days to hand over financial information.

No trial date has been scheduled.

Hagerstown woman sentenced for fraud

Olusola Idowu, 57, of Hagerstown was sentenced last week to nearly four years in prison and ordered to pay restitution of $425,000 after being convicted on charges of wire fraud, bankruptcy fraud, making false statements in a bankruptcy proceeding, filing a false tax return and failing to file a corporate tax return, according to a statement from federal prosecutors.

Idowu made false representations to financial companies to obtain mortgages and loans, according to court documents. She also lied to — and concealed information from — the U.S. Bankruptcy Court in relation to her Chapter 13 bankruptcy petition, officials said.

Former UM students' firms again named to Inc. 500

Lurn of Gaithersburg, an e-learning company, and Squarespace of New York City, a Web publishing platform, which were both founded by former University of Maryland entrepreneur program students, were named to the Inc. 500 list of the country's fastest-growing private companies for the second straight year.

Both company founders were students in the Hinman CEO program, which is operated through the university's Maryland Technology Enterprise Institute in College Park.

University's business school to open leadership center

The University of Maryland's Robert H. Smith School of Business in College Park plans to launch a new Center for Leadership, Innovation and Change on Oct. 1.

The center, supported by a $1.5 million grant from BB&T, is focused on producing vanguard research and programs to foster effective leadership, building organization capabilities for innovation and change, and promoting social stewardship in organizations, according to a university statement.

Labinal of Texas acquires Harvard Custom Manufacturing

Labinal Inc. of Corinth, Texas, said it has agreed to acquire Harvard Custom Manufacturing of Salisbury. Harvard Custom, with 830 employees, produces electrical wiring systems for the commercial and military aerospace industry. Terms were not disclosed.

"The acquisition of Harvard Custom Manufacturing represents a great opportunity for Labinal to expand its global customer presence and product offering," said Jorge Ortega, vice president and general manager for Labinal North America, a company of the Safran Group of Paris, in a statement.

"We are likewise excited about the opportunity to join forces with Labinal," said Harvard Custom CEO Greg Moffitt. "Our companies share a common commitment to excellence in serving the aerospace electronics market and both firms have a long track record of success in this industry."

Laurel woman gets probation, detention

Lois Diane Fant, 61, of Laurel was sentenced this week to three years of probation and 180 days of home detention after pleading guilty to health care fraud, according to a statement from federal prosecutors.

Fant owned a now-defunct transportation company and as part of her plea, she admitted to submitting false claims to Medicaid for transportation services that were not performed, officials said. Fant also was ordered to pay restitution of $125,000.