Ajit Karn
A Los Angeles lawyer is being accused for spending over $10 million of company cash on a six-month gaming and partying spree at a luxury Las Vegas hotel.
According to a Fox News story, a lawyer in California spent $10 million (Rs 82 crore) in corporate finances on gaming and partying in Las Vegas.
The publication claims that Sara Jacqueline King, who works for a financing business in the British Virgin Islands, spent the money to live “an opulent lifestyle” while staying at the Wynn hotel on the Las Vegas Strip.
A petition filed on February 11 in the southern division of the Central District of California alleges that the woman gambled continually while staying at the hotel.
LDR International Ltd, situated in the British Virgin Islands, asserted that the major reasons for the case were civil theft, fraud, and breach of written agreements. According to the lending company, King Lending received a number of loans between January and October 2022 with the goal of utilising the funds to fund loans to other borrowers, the site reported.
The complaint claims that the assets used as collateral for the loans included precious metal coins, luxury automobiles, jewellery, yachts, and promised income from professional sports contracts.
In addition, it should be stated that LDR International Ltd provided King Lending with 97 loans totaling $10,258,500 (about Rs 84.9 crore). The documents claim that in order to fake the loans, fictitious third-party borrowers’ names were used.
The petition claims that King moved into the Wynn Las Vegas resort and hotel, stayed there for six months, and gambled nonstop. The plaintiff is aware of this and believes it to be true.
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It further stated that as of February 9, Ms. King was continuing delivering fake contracts to LDR International Ltd and its representatives, despite having presented proof that she only has $11.98 (Rs. 991) to her name.
“King asserts that she has used up all the money and has nothing left to her name. King also crosses state boundaries to commit more scams, “noticed the petition.
