Woman loses ‘£8million of her company’s money going wild in Las Vegas casino’

A woman is accused of blowing $10m (£8m) of her company's cash in a Las Vegas bender.

Sara Jacqueline King, from Orange County in California, US, was employed by LDR International Limited in the British Virgin Islands as a lawyer when the alleged incident took place.

The lender accused the employee of using the organisation's funds to live "an extravagant lifestyle" at the Wynn on the Las Vegas Strip and filed a lawsuit against her on February 11, citing a breach of written contracts, fraud, and civil theft.

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The company claims the lawyer spent six months living at the club resort, during which time she “gambled 24/7".

"Plaintiff is informed and believes that King moved into the Wynn Las Vegas resort and hotel, lived there for six months, and gambled 24/7," the lawsuit states.

"Moreover, King has recently provided evidence she only has $11.98 [£10.01] to her name.

"As of February 9, 2023, King is still sending fake deals to the plaintiff and or its agents. King claims she has spent all of the funds and has no money left to her name.

"King also is crossing state lines to engage in further frauds."

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King first drew suspicion in January 2022 and her alleged dodgy dealings continued until October of last year.

LDR started to suspect foul play after they extended a number of loans to King Lending, which was then supposed to be loaned to third-party borrowers.

The lawsuit revealed that the loans were secured by collateral, which included luxury cars, boats, yachts, jewellery, precious metal coins, and earnings from guaranteed professional sports contracts.

But in April 2022 it was discovered King Lending’s finance lender licence status was redundant, meaning they were not licensed for the majority of the time they were a borrower.

It was then discovered that King Lending had taken 97 loans from LDR which were secured by using fake names for third-party borrowers, with the total borrowed sum amounting to an eye-watering $10,258,500 (£8million),

The lawyer's ex-husband has also allegedly fled to Morocco, the lawsuit added, suggesting he was involved in the fraud against LDR – although he is not named as a party in the lawsuit.

Ms King has 20 days to respond and a future court date is still to be decided.

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