Jury awards $2.9 million verdict in fraud case

posted on:
July 15, 2004

author:
Staff

category:
Fraud

HENRY COUNTY, Ala. – A Henry County jury awarded a record $2.9 Million verdict in a securities fraud case today. The jury awarded $900,000 in compensatory damages and an additional $2 million in punitive damages against World Capital Brokerage of Tampa, Florida. Ray and Shirley Robinson, who reside in Abbeville, invested $275,000 with the defendant. The funds were to be invested in commodity futures with a guarantee that the investments were totally safe. A 12.5% annual return was guaranteed on the investment. Evidence at trial revealed that the funds were never invested by the defendant.

“World Capital Brokerage and its agents are guilty of not only stealing our clients’ money, but also stealing their future,” states Gibson Vance, attorney for the plaintiffs. “The conduct exhibited by this company is nothing less then reprehensible.”

Gibson Vance and Chris Sanspree with the firm Beasley, Allen, Crow, Methvin, Portis & Miles of Montgomery, along with Chris Money of Abbeville, represented the Robinsons.

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