Irvine, CA – June 15, 2015
Brown & Charbonneau, LLP business trial lawyer Gregory G. Brown handles $1,000,000,000 to $2,000,000,000 fraud and contract dispute. Brown represented an individual who entered into an oral agreement to pool assets to develop venture capital company and related assets. After 11 years working together to build the company and assets into successful international venture capital firm, Brown’s client is squeezed out by the other owner and denied his share of proceeds. Brown’s client was fraudulently induced into contributing all of his assets to this venture (significantly more contributed than the other party) only to learn the company was significantly more successful than represented. Additionally, the other party had deposited the company’s money in accounts throughout the world, including Bahrain, Oman, Hong Kong and the Cayman Islands.
Additionally, the two business partners were in a same sex partner relationship during this time period where it was believed that both parties were contributing all of the assets, earnings and efforts to their joint benefit. They had all of their insurance together, signed all leases and property contracts together and maintained joint bank accounts. The claims involved breach of verbal contract, fraud and misrepresentation, fraud in the inducement, unjust enrichment and quantum meruit (recovery of the value of services contributed). The two individuals also acquired over 12,000,000 shares (approximately $1,200,000,000) in publicly traded stock (acquired by Alibaba). In order to handle their joint business and investment efforts, Brown’s client quit his job shortly after Alibaba went through and initial public offering (IPO) where the stock shares, at one point, reached $110 per share.