Paoloni v. Goldstein

331 F.Supp.2d 1310 (D.Colo. 2004)

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Nature of the Case

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Facts

Plaintiffs seek summary judgment against D on the following claims: (1) imposition of a constructive trust and equitable lien upon all of the D's assets; (2) requiring D to provide an accounting of all of its income, receipts, disbursements, expenditures, assets and liabilities from January 1, 1997 to the present; and (3) entry of a permanent injunction barring D and certain other persons from directly or indirectly transferring, selling, encumbering, impairing or otherwise disposing of assets derived from or traceable to the sale of viatical settlement contracts in the American Benefits Group Program. Ds created American Benefits Group Program to sell viatical settlement contracts to the public. Ds committed acts of fraud in violation of federal and Florida racketeering statutes in connection with the ABG Program. In an effort to hide and dissipate these fraudulently obtained assets, Ds established foreign and domestic corporations and trusts and engaged in a series of financial and monetary transactions with these corporations and trusts. One of the entities involved in this shell game to conceal proceeds from the ABG Program was the Iglesias Family Trust. D caused a corporation formed and controlled by him, to disburse $137,000 derived from the fraudulent sale of viatical settlement contracts through the ABG Program to Joseph Ieracitano as Trustee for the Iglesias Family Trust. The Trust then used these funds to purchase a condominium.