Updates to our Terms of Use

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

Wednesday, February 21, 2024
Courthouse News Service
Wednesday, February 21, 2024 | Back issues
Courthouse News Service Courthouse News Service

Lawyer Blew $2 Million Settlement|Trading Stocks Online, Clients Say

LAS VEGAS (CN) - Attorney Sandeep Baweja blew nearly $2 million of his clients' class-action settlement by trading on margin through an online trading firm, his former clients say in a second class action, in Clark County Court.

Baweja represented about 1,300 former ZipRealty sales agents in Los Angeles Federal Court in May 2007, seeking income docked from their paychecks. The case was settled for $3.5 million, and the class was owed $2.5 million after costs and fees.

Plaintiffs say in their latest class action that Baweja took their $2 million between April and June 2008 to trade on the margin. By December, he had lost all but just over $50,000, the complaint states.

Plaintiffs say about 200 former sales agents never got their share of the settlement money.

They are represented by Sharon Nelson.

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...