Updates to our Terms of Use

We are updating our Terms of Use. Please carefully review the updated Terms before proceeding to our website.

Friday, April 12, 2024 | Back issues
Courthouse News Service Courthouse News Service

About Those Millions of Dollars …

MANHATTAN (CN) - ADG Capital claims its sole managing member, Jonathan D. Stern, stole millions of dollars from it, including $1.5 million "to pay the legal fees of one of defendant's cronies who was a criminal defendant in a bribery and political corruption trial in Las Vegas," another $2 million "for himself and his cronies," and $200,000 "for lap dance and adult cabaret clubs," and other shenanigans.

ADG says Stern was "a faithless servant," an "abysmal steward," and ads that his "fraudulent and reckless misappropriation of the company's money and his unrelenting self-dealing took many forms."

ADG demands $20 million in compensatory damages and $60 million in punitive damages. It also wants "not less than $600,000 in cash" and all of Stern's ADG membership units, which constitute 41.3% of the company.

ADG claims Stern paid $1,477,423 in legal fees for his "crony" Dario Herrera, who was convicted in May 2006 of fraud, conspiracy and extortion, and sentenced to 50 months in federal prison, for "accepting bribes from a Las Vegas strip club operator while he was a county commissioner."

ADG is represented in New York County Court by Trachtenberg Rodes & Friedberg.

Categories / Uncategorized

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.

Loading...