An Orange County, California lawyer was accused by a British Virgin Islands-based firm of using millions to live extravagantly and gamble in a newly filed lawsuit.
LDR International Limited claimed it loaned more than $ 10.2 million to Sara King and King Family Lending LLC in a February 11 court filing. The lending company said that the money was used to lend to third-party borrowers. King is accused of gambling and leading an “extravagant life” in Las Vegas. The petition was filed by the plaintiff’s lawyers in the U.S. District Court of the Central District of California.
“Plaintiff believes King moved into Wynn Las Vegas resort, hotel, and lived there for six months, and gambled 24/7,” one filing stated.
According to the lawsuit, the third-party loans were “pretend secured by luxury cars and jewelry, watches and antique precious metal coins as well as designer handbags, boats and yachts, and earnings from guaranteed sports contracts that included representations about salary and bonus amounts.” King was accused of “making various intentionally false written representations about third-party loans and the collateral and funding.”
According to the lawsuit, “There were no third-party loans from King Lending for any third-party borrower.”
LDR International Limited claimed that King Lending was inactive on its state finance lender license since April. LDR International Limited further stated that she misrepresented it as an administrative hiccup. King also sent a screenshot from her bank account proving she had $11.98.
We reached out to King for comment but were not able to get a response at the time of publication.
“We hope that the California State Bar places a consumer alert on the member record, that the case is referred for law enforcement, and that she ceases gambling at Nevada casinos because of the exposure and public awareness surrounding this fraud,” Ronald Richards said on Monday. Richards was one of the attorneys representing LDR International Limited.
King “chronically” sent them text messages, and “further surrogates” got in touch with him to make additional offers to “deter our prosecution of the claims.” Richards claimed that her “attempts of distracting us with these meaningless loans or investments to get repaid only further prove her culpability.”
We were informed that victims have come forward “informing us she used her finance and law company licenses to commit these frauds.”
Richards stated, “We are supportive she does the right thing. She accepts responsibility and gives visibility on how she gambled away more than $10,000,000.”
According to the attorney for the plaintiff, they hope King will also provide authentic bank statements.
According to the filing, the lawsuit seeks damages, prejudgment and post-judgment interests, and coverage for legal fees.