Lawyer charged with inflating $10.2 million in corporate funds while gambling in Vegas

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February 19, 2023 | 12:20 PM

A Los Angeles lawyer is reportedly being charged after she allegedly spent more than $10 million in corporate funds during a six-month gambling and party night at a posh Las Vegas hotel.

Sara Jacqueline King of Orange County is charged with counterfeiting multimillion-dollar loans from LDR International Limited of the British Virgin Islands, according to a lawsuit filed Feb. 11 in California’s Central District.

According to the lawsuit, the company made 97 different loans to King’s self-proclaimed credit service between January 2022 and October 2022, Law and Crime reported. The money was supposed to go to outside borrowers, but in reality they didn’t exist, the lawsuit alleges.

The bogus loans were presented with documentation that was supposed to belong to the borrowers, proving they were secured with collateral.

“King Lending’s alleged loans to the outside borrowers were allegedly secured by various forms of collateral, including but not limited to luxury cars, boats, yachts, jewelry, watches, precious metal coins and the income from guaranteed professional sports contracts. ”, says the lawsuit.

However, no collateral was ever provided, the lawsuit alleges.

“King and King Lending have provided Plaintiff, and his agent and representative, Laurent R., with false and fabricated loan documents between King Lending and the alleged outside borrowers, including “Secured Promissory Note,” identifying the third-party’s name and other identifying information. borrower redacted,” the lawsuit alleges.

King sent LDR photos of her posing with NFL quarterbacks Aaron Rogers, Tom Brady, Patrick Mahomes and Josh Allen at a golf tournament.
court records Central District of California)

The filing additionally includes a number of photos that King sent to the company in “an effort by King to increase Plaintiff’s confidence in King in terms of her connections, lifestyle, and affiliations with high-profile athletes as part of her fraud and scheme.”

A photo shows King with four NFL quarterbacks — Aaron Rogers, Tom Brady, Patrick Mahomes and Josh Allen — in a photo believed to have been taken at “The Match” golf tournament in Las Vegas, according to the indictment.

“They show the lavish lifestyle she lived, jewelry, cars and the image she tried to portray, and also that she was a successful California licensed attorney,” the filing said.

LDR alleges that for about six months, King Lending lost its license to engage in such transactions – matching the timeline of King’s multi-million dollar slot game.

“King spent most of the money loaned by Plaintiff to King Lending to gamble in Las Vegas, fund an extravagant lifestyle, and for other personal uses by King,” the filing alleges. “Plaintiff has been informed and believes that King moved into the Wynn Las Vegas resort and hotel, lived there for six months and gambled 24/7.”

Nearly every penny of the $10.2 million King received from LDR has gone missing, the lawsuit says.

The lawsuit says King’s ex-husband “has since fled to Morocco” and supports allegations that King “has engaged in massive fraud,” Law and Crime reported.

King now says she’s broke.

“King recently provided evidence that she only has $11.98 to her name,” the lawsuit said.

This month, however, King LDR is still asking for more money “to recoup the money she stole.”

The lawsuit charges King with breach of contract, fraud, civil theft and “account stated” — a California cause of action that allows a creditor to demand payment.




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