Lawyer accused of blowing up 102 million in company funds

Lawyer accused of blowing up $10.2 million in company funds in six-month Vegas junket


February 19, 2023 | 12:20 p.m

Sara Jacqueline King now says she has less than $12 in her name after being scammed for six months. FOX 5 KVVU TV

A Los Angeles attorney is reportedly being sued after she allegedly spent over $10 million in company funds during a 6-month gambling and partying frenzy at a fancy Las Vegas hotel.

Orange County’s Sara Jacqueline King is accused of falsifying multimillion-dollar loans from LDR International Limited in the British Virgin Islands, according to a lawsuit filed Feb. 11 in the Central District of California.

According to the lawsuit, the company made 97 separate loans to King’s self-proclaimed lending service between January 2022 and October 2022, Law and Crime reported. The money was supposed to go to third party debtors, but in reality they didn’t exist, the lawsuit alleges.

The bogus loans were presented with documentation believed to have come from the borrowers, showing that they were secured by collateral.

“King Lending’s alleged loans to the third-party borrowers were allegedly secured by various types of collateral, including but not limited to luxury automobiles, boats, yachts, jewelry, watches, bullion coins and the proceeds of guaranteed professional sports contracts,” the lawsuit states.

However, no collateral was ever provided, the lawsuit states.

“King and King Lending provided Plaintiff and its agent and representative, Laurent R., with false and fabricated loan documents between King Lending and the alleged third-party borrowers, including ‘secured promissory notes’ redacted with the third-party borrower’s name and other identifying information,” reads in the lawsuit alleges.

King sent LDR photos of her posing with NFL quarterbacks Aaron Rogers, Tom Brady, Patrick Mahomes and Josh Allen at a golf tournament.

The filing also includes a series of photos that King sent to the company “to reinforce the plaintiff’s confidence in King regarding her connections, her lifestyle and her ties to high-profile athletes as part of her fraud and scheme.”

One photo shows King with four NFL quarterbacks — Aaron Rogers, Tom Brady, Patrick Mahomes and Josh Allen — in a photo believed to be taken during The Match golf tournament in Las Vegas, according to the lawsuit.

“They showcase the lavish lifestyle she led, jewelry, cars and the image she wanted to portray, and she is a successful California Attorney,” the filing reads.

LDR claims that King Lending lost its license to conduct such transactions for about six months — which is the timeframe of King’s multi-million dollar gambling spree.

“King spent the majority of the monies loaned to King Lending by the plaintiff to gamble in Las Vegas, fund an extravagant lifestyle, and for King’s other personal purposes,” the filing reads. “Plaintiff is informed and believes that King moved into the Wynn Las Vegas Resort and Hotel, lived there for six months and gambled 24 hours a day.”

Almost every penny of the $10.2 million King received from LDR is gone, the lawsuit says.

The lawsuit says King’s ex-husband “has since fled to Morocco” and has backed allegations that King “was involved in massive fraud,” Law and Crime reported.

King now says she’s broke.

“King recently presented evidence that she only has $11.98 in her name,” the lawsuit reads.

Later this month, however, King LDR is asking for more money “to get back the money she stole.”

The lawsuit alleges King’s breach of contract, fraud, civil theft and “account specified” — a cause of action in California that allows a creditor to sue for payment.

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