Investors in an alleged $300 million Ponzi scheme filed a class-action lawsuit Monday against a Las Vegas lawyer, who is facing separate federal criminal charges, accused of orchestrating the operation.
The investors who filed the lawsuit in District Court include Elizabeth Lewis, who runs a Henderson cabinet company; Paul Maalouf, a retired law enforcement officer; Brad Maloff, who owns a local tax service, the lawsuit said.
The plaintiffs claim they were investing into the company J&J Consulting, and were told the investments provided money to people who had settled legal claims in personal injury cases and were seeking short-term funding before the settlements were paid.
“In short, the J&J Conspirators marketed and sold interests in purported personal injury settlements while promising 10% to 20% returns paid every couple of months,” the lawsuit said. “Instead of investing the funds as represented, the J&J Conspirators used the money in a classic Ponzi-like fashion, while drawing significant profits.”
The lawsuit accuses Las Vegas attorney Matthew Beasley of controlling the funds through his Wells Fargo account, and soliciting investors with Jeffrey Judd, the president of J&J Consulting.
Earlier this month, Beasley was shot by FBI agents who went to his house to question him about the Ponzi scheme, federal prosecutors have said. The 49-year-old now faces a charge of assault on a federal officer.
According to the lawsuit, the Ponzi scheme began in 2017 and…
