Client Awarded $13 Million in Business Fraud Trial
A Holland & Knight client was awarded more than $13 million in judgments following a two-week business fraud trial in which it was determined that the defendant had defrauded the client by representing that certain aspects of a new business venture cost $2.95 million, when the actual cost was only $500,000. The defendant was found to have covered up the fraud for years and later unilaterally transferred the company's assets to another business that the defendant controlled. The award was affirmed on appeal.