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In a recent lawsuit, a British Virgin Islands-based company accused an Orange County, California attorney of misusing millions for lavish living and gambling.
In a Feb. 11 court filing uploaded by Law & Crime, LDR International Limited said it provided attorney Sara King and King Family Lending LLC with more than $10.2 million for lending to third-party borrowers between January and October 2022, Much of which was lending The company accused King of committing to gambling and living a “flamourous lifestyle” in Las Vegas. Plaintiff’s attorneys filed the complaint in the United States District Court for the Central District of California.
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“Plaintiff is informed and believes that King moved into the Wynn Las Vegas Resort and Hotel, lived there for six months and gambled around the clock,” the filing reads at one point.
The Las Vegas Strip (iStock)
The lawsuit alleged that the loans to third parties were “allegedly secured by luxury automobiles, jewellery, watches, antique precious metal coins, designer handbags, boats, yachts and proceeds from guaranteed sports contracts detailing salaries and bonus amounts.” King, the allegation said, made “various willful misrepresentations in writing” about the third-party loans and their collateral and funding.
“There were no third-party loans from King Lending to third-party borrowers,” the lawsuit alleged.
King Lending had an “inactive” status on its state financial lender license as of April, which LDR International Limited accused it of misrepresenting as an administrative hiccup, the lawsuit further claimed. It also said King sent a screenshot of her bank account showing she only had $11.98.
FOX Business reached out to King for comment but received no response at the time of publication.
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“We hope that the California Bar Association will place a consumer warning notice on their membership record, escalate the case to law enforcement, and stop gambling at various Nevada casinos as a result of the exposure and public awareness surrounding this scam,” he said Ronald Richards, one of the attorneys representing LDR International Limited in the lawsuit, told FOX Business on Monday.
The Las Vegas Strip (Benjamin Hager / Las Vegas Review-Journal via AP / File / AP Newsroom)
He said King texted them “chronically” and contacted “additional proxies” with additional offers “to deter our pursuit of our claims.” Their “attempts to distract us with these meaningless offers to invest or borrow more money to pay back only further demonstrate their guilt,” Richards argued.
Alleged victims have “informed us that they are using their legal and financial firm licenses as tools to perpetrate these scams,” he told FOX Business.
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“We help her do the right thing and take responsibility for her own behavior and show how she gambled away over $10,000,000,” Richards said.
According to the plaintiff’s attorney, they hope King will provide authentic bank statements as well.
The lawsuit seeks damages, pre- and post-judgment interest, and recovery of attorneys’ fees, the filing shows.