Florida Court Awards $725K in Loan Fraud Check Case

Facts in the Backdrop of the Incident

In September 2022, Parminder Gyani met Katiuska Vegas. Vegas requested a $150,000 loan to purchase a foreclosure property. She represented this property as an opportunity for a quick profit. The loan was made through funds from Gyani’s company, Humble Hustler Corp. Vegas agreed to repay the full loan within 60 days with 18% interest. To secure the transaction, she issued a postdated check payable to Humble Hustler.

Events Leading to the Legal Dispute

Vegas never repaid the loan on time. When the check was presented at Bank of America, the account lacked sufficient funds. The bank warned Gyani that depositing the check could result in Humble Hustler’s account being closed. Vegas eventually paid $5,000. However, she then denied the entire transaction in a letter. Gyani and Humble Hustler issued a statutory demand. Vegas and her company, Invepa Properties, refused to comply. Plaintiffs alleged that Vegas used Invepa as a shell to defraud creditors.

Plaintiffs’ Injuries and Their Impact

Gyani and Humble Hustler were left unpaid. They received only $5,000 of the $150,000 loaned. The dishonored check jeopardized Humble Hustler’s bank standing. Plaintiffs faced financial strain and incurred legal expenses. The loan funds, earmarked for business purposes, became unrecoverable. Vegas’s denial of the transaction added to their harm.

Key Arguments and Proceedings

Legal Representation

Plaintiffs: Parminder Gyani | Humble Hustler Corp.

Counsel for the Plaintiffs: Jonathan Noah | Jerrell Breslin

Defendants: Katiuska Vegas | Invepa Properties LLC

Counsel for Defendants: Dennis S. Klein

Claims

Count I – Piercing the Corporate Veil

Plaintiffs claimed Vegas controlled Invepa as her alter ego. She used the company for fraudulent purposes. This improper use caused financial harm.

Count II – Worthless Check (Humble Hustler v. Invepa)

Plaintiffs claimed Invepa issued a $150,000 check without sufficient funds. Only $5,000 was paid. The remainder remained unpaid.

Count III – Worthless Check: Treble Damages

Plaintiffs issued a statutory notice under Florida law. Defendants failed to pay. Plaintiffs sought triple the owed amount.

Count IV – Default on Oral Loan Agreement

Plaintiffs loaned $150,000 to Defendants. Repayment was due in 60 days. Defendants repaid only $5,000 and defaulted.

Count V – Fraud (Pled in the Alternative)

Plaintiffs alleged Vegas misrepresented the loan purpose. Her later denial suggested her initial statements were false. Plaintiffs claimed fraud caused their financial loss.

Defense

Katiuska Vegas and Invepa Properties, LLC denied the allegations in the complaint, stating they lacked knowledge sufficient to admit or deny the claims and therefore demanded strict proof. They acknowledged the Court’s jurisdiction solely for legal purposes but disputed any suggestion that Vegas exercised control over Invepa. Vegas admitted she was the company’s CEO but denied being the controlling party, insisting further evidence was required.

The Defendants asserted that the Plaintiff failed to state a valid cause of action and had not shown itself to be the real party in interest. They challenged the Plaintiff’s standing to bring the suit, maintaining that only a properly interested party could do so. Invoking the statute of frauds, they argued that the claims were unenforceable due to the absence of a signed agreement as required by law.

Verdict

The Court entered final judgment for Humble Hustler Corp. against Invepa Properties LLC on Counts II and III, awarding $145,000 and $435,000 respectively, with post-judgment interest and attorney’s fees on Count III. Invepa was ordered to complete and serve a Fact Information Sheet under Rule 1.977(b) within 45 days unless the judgment is satisfied or discovery stayed.

The Court also awarded Parminder Gyani $145,000 against Katiuska Vegas on Count IV, with interest, and ordered payments under Counts II and IV to be offset to avoid double recovery. On Count V, judgment was entered for Defendants Vegas and Invepa, with no liability. The Court retained jurisdiction to enforce the judgments.

Court Documents

Court documents are available for purchase upon request at jurimatic@exlitem.com