Lovatt, et al. v. Sendera Ranch A2A Developments, LLC, et al. was filed in Texas state court on January 26, 2021, claiming over $1 million in relief for breach of contract and fraudulent conveyance in the course of an alleged Ponzi scheme.
Lovatt and two entity plaintiffs seek relief for the actions committed by several individual defendants and entities operating a real estate investment scheme in the Fort Worth area of Texas. The plaintiffs allege the defendants solicited investments from foreign individuals and entities to circumvent SEC regulations and wrongfully promised green cards in return for the investments. Investors were promised substantial returns as well. Then, the defendants transferred the money to shell corporations under the guise of construction, management, and legal fees. The plaintiffs allege that the money paid out to investors came from investment principle rather than from revenue from legitimate business operation.
Plaintiffs allege that the defendants breached investment contracts and fraudulently conveyed investment funds to a sham entity with a co-conspirator serving as the principal. The relief sought exceeds $1 million in addition to injunctive and declaratory relief relating to the properties at issue, the contracts and transfers executed, and the creation of a trust for the benefit of investors.