LOS ANGELES - A Los Angeles lawyer is being sued by her former employer after she allegedly spent over $10 million of company money to fund a six-month gambling and partying binge at the Wynn Las Vegas.The lawsuit filed on Feb.
11 in California federal court by British Virgin Islands firm LDR International Limited accuses Sara Jacqueline King of Orange County of falsifying millions of dollars worth of loans from the company.According to court documents, the company extended nearly a hundred different loans to King’s self-named lending service - King Family Lending - between January 2022 and October 2022.
The suit claims the money was supposed to go to third-party borrowers, but in reality those borrowers were fictitious.Sara Jacqueline King / California Central District Court The lawsuit claims the fake loans were presented with documentation that was supposed to be from the borrowers, showing they had been secured with collateral.
But no collateral was ever put up."The purported loans from King Lending to the third-party borrowers were purportedly secured by various forms of collateral, including but not limited to luxury automobiles, boats, yachts, jewelry, watches, precious metal coins, and the earnings from guaranteed professional sports contracts," the lawsuit states.Sara Jacqueline King / California Central District Court "King and King Lending provided Plaintiff, and its agent and representative, Laurent R., with false and fabricated loan documents between King Lending and the purported third-party borrowers, including ‘Secured Promissory Note,’ with name and other identifying information of the third-party borrower redacted," the lawsuit alleges.Instead, "King moved into the Wynn Las Vegas resort and hotel, lived.