Jury Hits Ex-Treasurer Gu with $367K in Corporate Theft Case
Table of Contents
Case Background
This lawsuit involved a significant commercial dispute between the Plaintiff, Oamic Ingredients, LLC, a business entity, and the Defendant, Steven Z. Gu, who was identified as the Treasurer of Oamic Ingredients. The company initiated the action in the Superior Court of Connecticut, Judicial District of Stamford-Norwalk, in October 2023. The claims revolved around allegations that Mr. Gu misused his position and misappropriated company funds and assets while serving as Treasurer. The case escalated quickly, transitioning from initial pleadings to a full jury trial to resolve the serious allegations of financial misconduct and breach of trust.
Cause
The central cause of action stemmed from Steven Z. Gu's alleged financial misconduct while acting as Treasurer of Oamic Ingredients. The company contended that Mr. Gu took actions that directly violated his contractual and fiduciary duties to the company. Specifically, Oamic Ingredients claimed that Mr. Gu improperly converted company funds and committed acts that constituted civil theft under state law. These actions, Oamic asserted, resulted in substantial financial losses for the business.
Injury
Oamic Ingredients, LLC, claimed it suffered significant financial injury and loss due to Mr. Gu’s alleged misconduct. The injury included the direct loss of the funds and assets that Mr. Gu had purportedly converted, as well as the damages stemming from the breach of contract. The company sought to recover these losses to stabilize its operations and compensate for the Defendant’s unauthorized use of corporate resources.
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