An Orange County, California, attorney working for a loan company in the British Isles allegedly spent $10 million of company funds while gambling and partying in Las Vegas, according to reports.
Fox station KVVU in Las Vegas, Nevada, reported that a petition filed with the Southern Division of the Central District of California said Sara Jacqueline King used the funds while staying at the Wynn on the Las Vegas Strip and living “an extravagant lifestyle “.
Sara Jacqueline King was charged with defrauding the loan company she worked for out of more than $10 million. (Court records of the Central District of California)
The petition was filed on February 11 and alleges that the defendant gambled 24 hours a day, seven days a week while living at the Wynn.
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British Virgin Islands-based LDR International Limited said the grounds for the lawsuit were fraud, civil theft and breach of written contracts.
The lending company claims that it provided a series of loans to King Lending between January and October 2022, with the funds to be provided to third-party borrowers.
General views of the Wynn hotel and casino on June 27, 2021 in Las Vegas, Nevada. (Images by AaronP/Bauer-Griffin/GC)
The loans, the lawsuit notes, were secured by things like precious metal coins, luxury cars, jewelry, yachts, and guaranteed winnings from professional sports contracts.
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By April 2022, King’s financial lender license was ineffective, KVVU reported.
LDR made 97 loans to King Lending, for a total of $10,258,500. The documents say the loans were forged using the false names of third-party borrowers.
“Plaintiff is informed and believes that King moved into the Wynn Las Vegas hotel and resort, lived there for six months, and gambled 24/7,” the petition states.
The plaintiff goes on to say that King provided evidence that he only has $11.98 to his name, yet as of February 9, 2023, he is still sending bogus contracts to the plaintiff and her agents.
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“King claims that he has spent all funds and has no money left to his name,” the petition continued. “King is also crossing state lines to engage in more fraud.”
King has up to 20 days to respond to the request.
