Florida

SEC Cracks Down on Alleged Fraud Scheme by Florida Duo in Mass Tort Litigation Financing

by

Miami, Fla. — Federal regulators have charged two Florida men with operating a fraudulent scheme that allegedly swindled millions of dollars from investors, under the guise of funding mass tort litigation. The Securities and Exchange Commission (SEC) claims the duo misled investors about the potential returns and the usage of their funds, which were predominantly funneled into their own pockets rather than toward legal expenses as promised. According to the SEC, the individuals, from Broward County, presented their operation as a lucrative opportunity to invest in the outcomes of large-scale legal settlements. Investors were led … Read more

Florida Jury Grants $16 Million to Family in Landmark Case Against Philip Morris for Smoker’s Fatal Cancer

by

MIAMI — A jury in Florida ordered Philip Morris USA to pay $16 million to the family of a woman who died of lung cancer after years of smoking Marlboro cigarettes, marking a significant verdict in the ongoing litigation surrounding the health impacts of tobacco products. The decision concluded a legal battle highlighting the dangers of smoking and the responsibilities of cigarette manufacturers. The lawsuit was brought forth by the family of Elaine Jordan, who started smoking in the 1970s and continued until her death in 1996. Her family argued that Philip Morris was responsible … Read more

SEC Targets Florida Group in Alleged Multi-Million Dollar Litigation Finance Scam

by

Miami — Federal regulators have charged two Florida men with orchestrating a sophisticated fraud scheme centered on the financing of mass tort litigation. The Securities and Exchange Commission (SEC) alleges that the duo misled investors about the potential returns and the nature of the investments involved. According to the SEC, the accused, from their offices in South Florida, promised substantial profits to investors by funding lawsuits with potentially high settlements. However, what the SEC claims to have uncovered deviates starkly from legitimate litigation financing practices. Primarily, the funds gathered from new investors were purportedly used … Read more

SEC Targets Florida Company in Alleged Multi-Million Dollar Investor Fraud Scheme

by

Miami, FL — The Securities and Exchange Commission (SEC) has filed a lawsuit in Florida against Pravati Capital LLC, highlighting allegations of a complex investment scam revolving around mass tort litigation funding. This firm, based in Scottsdale, Arizona, is accused of deceiving investors by falsely promising highly profitable returns tied to lawsuit financing. The complaint, lodged in a federal court in Miami, outlines that Pravati Capital, along with its CEO Alexander Chucri, repeatedly misrepresented the stability and profitability of their investment products. Investors were led to believe their contributions were secure and would be pooled … Read more