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An Orange County, California, attorney working for a lending company in the British Islands allegedly blew through $10 million of the company’s funds as she gambled and partied 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 stated Sara Jacqueline King used the funds while she stayed at the Wynn on the Las Vegas Strip and lived "an extravagant lifestyle."
Sara Jacqueline King was accused of defrauding the lending company she worked for out of more than $10 million. (Central District of California court records)
The petition was filed on Feb. 11 and alleges that the defendant gambled 24 hours a day, seven days a week while she lived at the Wynn.
LDR International Limited, based in the British Virgin Islands, said the reasons for the lawsuit were fraud, civil theft and breach of written contracts.
The lending company claims that it extended a series of loans to King Lending between January and October 2022, and the funds were to be provided to third-party borrowers.
General views of the Wynn hotel and casino on June 27, 2021 in Las Vegas, Nevada. (AaronP/Bauer-Griffin/GC Images)
The loans, the lawsuit notes, were secured by things like precious metal coins, luxury cars, jewelry, yachts and guaranteed earnings from professional sports contracts.
By April 2022, King’s finance lender license was ineffective, KVVU reported.
LDR extended 97 loans to King Lending, totaling $10,258,500. Documents say the loans were falsified using fake names of third-party borrowers.
"Plaintiff is informed and believes that King moved into the Wynn Las Vegas resort and hotel, lived there for six months, and gambled 24/7," the petition reads.
The plaintiff goes on to say King provided evidence she only has $11.98 to her name, yet as of Feb. 9, 2023, she is still sending false contracts to the plaintiff and its agents.
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"King claims she has spent all of the funds and has no money left to her name," the petition continued. "King also is crossing state lines to engage in further frauds."
King has up to 20 days to respond to the petition.
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