NEWPORT BEACH, Calif., May 24, 2013 /PRNewswire/ -- Lee Durst, Attorney for the Plaintiffs states:
Three separate lawsuits filed in the US District Court of California for the Eastern District of California by defrauded investors claim that they were enticed to buy securities in BP Arco-based operations, but they never received the securities acquired and never received payments for funds paid. Moreover, investors claim that the named BP Arco businessmen transferred corporate assets directly to themselves for the purpose of defrauding their investors. Those investors further claim that these men, their accomplices, and their holding companies have committed a litany of crimes including RICO (Racketeer Influenced and Corrupt Organizations Act) violations by using the US Mail and US banking systems to commit fraud, intimidating witnesses and parties to the suits, trying to bribe witnesses, giving false and forged documents to the banks and unwary investors, all to illegally obtain funds from both.
The complainants have submitted a full list of claims and documentary evidence in their court filings. One case has been settled under a "confidential" agreement after the defendants threatened those who filed their complaint. Total losses by the Plaintiffs are approximately $7,200,000.
The Defendants and their companies are:
NIRMAL SINGH; NACHHATTAR S. CHANDI; SUSANA E. CHANDI; KS CHANDI & SONS, INC.; VALLEY PETROLEUM INC; CHANDI BROTHERS, LLC; WATSONVILLE PETROLEUM, INC. aka WATSONVILLE OIL, INC; CHADHA CONSTRUCTION; PAUL RAJ CHADHA; AASRA PETROLEUM INC.; JPH LLC; GURDEV SINGH TEER; RANJEET SINGH; PRABHJOT SINGH; and JASWINDER KAUR.
All have been sued in US District Court for the Eastern District of California in three separate cases (cases #1:13-cv-00484, #1:13-at-00215 and 2:13-cv-00663)
SOURCE The Durst Firm