$60.2 million verdict awarded in trial over investor fraud and breach of contract allegations
In 2000, the defendants in this matter fraudulently sold our client an ownership interest in their company in exchange for over what would ultimately be over $635,000 in investments. After taking his money, however, they proceeded to cut him out of the promised ownership interest, refused to give him his agreed-upon salary, and breached payment on numerous promissory notes. Subsequently, they closed up the company and over the subsequent years proceeded to play a complex shell game, constantly shifting the money – and our client’s investments – into one new company after another, all in order to hide their ill-gotten gains and prevent our client from ever recovering on his investment.
On August 12, 2016, however, the defendants were finally brought to justice. After years of work by our attorneys Laurence Osborn and Robert Baker to unravel defendants’ fraudulent activities and fight through their obstructive litigation tactics, the trial court completely rejected the defendants’ attempts to hide behind their shell companies and awarded our client a verdict of $60,282,000.00, with an award of costs to follow.