Facts: Our client is an investment company that purchased convenience stores. The convenience stores were to be run by an individual, who also became an owner of the investment company. The convenience stores failed and went to foreclosure. Our research revealed that the individual running the business was using the proceeds from the business to pay for his personal expenses and his personal credit cards. We filed suit against him for fraudulently transferring money from the company to himself and his family members. We estimate that the amount siphoned from the businesses was approximately $500,000.

Result: The case was settled

Amount Client Received: We have so far recovered $285,650.01, from which $200,000 was returned to our client, and $85,650.01 was paid toward attorney’s fees and expenses. Provisions have been made in the settlement agreement for an additional payment of $879,934.65 to be made through insurance policies.