Jury Clears Law Firm Dentons in Multi-Million Dollar Fraud Case

Case Background

The Plaintiffs Venezuelan entities Cines Unidos, S.A. and two individuals, Philip Robert Henriquez and Fernando Lauria had alleged that the Defendants participated in an elaborate, international fraud and Ponzi scheme that caused them millions of dollars in losses.

The dispute centered on a transaction that had involved Venezuelan bolivars (VEF) and U.S. dollar promissory notes. The Plaintiffs claimed that Dentons and Rammelt, along with other Defendants not on trial, had stolen millions of dollars between September and December 2016 through a fraudulent scheme. The law firm and its partner had vigorously denied the allegations, maintaining that they had acted appropriately and professionally within the bounds of legal representation.

Cause

The central cause of the lawsuit was the Plaintiffs’ belief that the Defendants had facilitated and provided substantial assistance to a group of individuals and foreign corporations who had allegedly misrepresented a financial transaction. Specifically, the Plaintiffs asserted that they had deposited bolivars for the purpose of purchasing U.S. dollar promissory notes that a company named Digold Overseas, S.A. failed to honor. The Plaintiffs’ losses had stemmed directly from the failure of that promised exchange.

Injury

The Plaintiffs claimed significant financial harm. They had sought to recover millions of U.S. dollars lost as a result of the failed transaction. The injury had involved the total loss of the deposited bolivar funds and the failure to receive the promised U.S. dollar equivalent.

Damages Sought

The Plaintiffs sought a judgment for compensatory dam