The defendant, a financial advisory firm, made several false promises and misrepresentations about the qualifications of their prospective advisors while recruiting the plaintiff as a client. The plaintiff, a former professional athlete, ultimately agreed to become a client under false pretenses and transferred the management of his assets to the defendant. Spanning unauthorized securities transactions, insurance policy purchases, and other misappropriations of funds, the defendant's scheme reached virtually every aspect of the plaintiff's financial life, bringing him to the brink of personal bankruptcy, and leading to the closure of his business.
The plaintiff was unfortunately on the brink of bankruptcy after having been defrauded by the defendant. Without the expedient $750,000 investment from LexShares, the plaintiff would not have been able to retain high caliber counsel and cover necessary legal expenses.