Jury rejects Usury Claim, Award $351K for Unjust Enrichment

Case Background

This legal battle began when Manuel A. Bastardo Hernandez and his company, Global Trading and Foods, Corp. (collectively, "Bastardo"), filed a complaint against Jose Alberto Olortegui Quispe ("Olortegui"). The core dispute arose from a loan agreement between the parties. Bastardo had alleged the terms of the loan were illegal because the interest rate was excessively high, claiming the agreement violated Florida's civil and criminal usury statutes. Essentially, Bastardo sued the lender, Olortegui, to void the loan and recover the funds already paid, asserting that the lender exploited him with an agreement that demanded an unlawful return on the money borrowed.

Cause

The central cause of action in the original complaint was Usury. Bastardo contended that he entered into a loan agreement with Olortegui that included an interest rate so high it was illegal under Florida law, an act which Bastardo claimed demonstrated a "corrupt intent" on Olortegui's part to take more than the legal maximum rate for the use of the loaned money.

In response, Olortegui denied all allegations of usury and fraud. He filed a detailed counterclaim which became the primary focus of the verdict. His counterclaim alleged Unjust Enrichment and Money Had and Received, arguing that Bastardo, having received and benefited from Olortegui's money, had unjustly refused to repay it. Olortegui’s position asserted that, regardless of the contract's alleged legality, Bastardo had received a benefit that, in fairness, he ought to pay for. Olortegui further claimed that Bastardo received his money as a result of fraud, specifically regarding the repre