Ocean Development Partners, LLC (MA) and Ocean Development Partners (RI) v. Dmity Deych, et al. was filed in the Superior Court of Suffolk County, Massachusetts on March 11, 2021, seeking damages and equitable relief for federal statutory and state law claims related to the defendants’ purported scheme to defraud the purchasers of certain real estate.

Plaintiffs are limited liability companies located in Massachusetts and Rhode Island that entered into an agreement to purchase a real estate development project and luxury vacation community (the “Investment”).  The defendants are individuals and entities who, largely unbeknownst to plaintiffs, likewise had an ownership or other interest in the Investment.

Plaintiffs claim that the defendants fraudulently induced them into purchasing the Investment by misrepresenting its value, profitability, and ownership, and then extorting successive “deposits” through fabricated threats of competing buyers, foreclosure, and claims that Plaintiffs were breaching the purchase agreement and at risk of losing what they had already paid.  Plaintiffs allege that the defendants absconded with approximately $2,500,000 in deposits and other expenditures related to the Investment as well as caused them to lose $45,000,000 in expected business profits.

Plaintiffs filed the complaint asserting causes of action under the Federal Civil RICO Act as well as for breach of contract, tortious and intentional interference with contracts, misrepresentation, promissory estoppel, unfair and deceptive trade practices, embezzlement, and equitable relief.