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Fraud
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Case Details
Cain & Skarnulis recently won a fraud trial in the United States Bankruptcy Court for the Northern District of Texas, along with a ruling that the judgment of approximately $2 million cannot be discharged by the bankruptcy process. C&S filed its application for more than $400,000 in attorney’s fees May 2, 2017. Fort Apache, an oil and gas operator, proved that the defendant fraudulently induced it into drilling a well without payment for nearly $2 million in expenses. The defendant represented that he had not raised the money necessary from investors. At trial, Fort Apache proved that not only had the investor money been raised, it had been misappropriated by the defendant for personal expenses. Judge Stacey G.C. Jernigan found that Fort Apache proved that it agreed to the project based on false pretenses. She further determined that the fraud was sufficient to give rise to a nondischargeable debt, meaning that even after the bankruptcy discharges other debts, the defendant will continue to be liable for the judgment.
Additional Notes
Judgment of approximately $2 million cannot be discharged by bankruptcy process. Firm sought over $400,000 in attorney's fees.