Nevada Court of Appeals Upholds Two Judgments Against Virtual Communications Corporation Executives
Nevada Court of Appeals Upheld Two Judgments Against Former Virtual Communications Corporation Executives
LAS VEGAS, NEVADA, USA, May 4, 2022 /EINPresswire.com/ — On April 29, 2022, the Nevada Court of Appeals upheld two judgments against Ronald Robinson and Vernon Rodriguez, who served as executives of Virtual Communications Corporation , a Nevada company that sold unregistered securities.
The cases were Reva Waldo v. Virtual Communications Corp. (Eighth Judicial District – A725246, Court of Appeals #82970) and Steven Hotchkiss v. Virtual Communications Corp. (Eighth Judicial District – A762264, Court of Appeals 83250). Both cases were filed in Clark County District Court and were appealed to the Nevada Supreme Court before the judgments were upheld by the Nevada Court of Appeals.
The judgments stem from Virtual Communication Corp.’s offering of promissory notes, which were guaranteed by their former CEO, Ronald Robinson. Both underlying cases involved unregistered broker Retire Happy, which is now the subject of independent SEC action.
Virtual Communications Corporation defaulted in February 2015. Subsequently, the investors filed a lawsuit. Shortly after the court ruled that Virtual Communications had sold unregistered securities, the company filed for bankruptcy and reorganized. The company was therefore not the subject of the judgments against officers Vernon Rodriguez and Ronald Robinson.
The Court found that the promissory notes were unregistered and non-exempt securities, and that Robinson and Rodriguez, as control persons, were jointly and severally liable to the plaintiffs under NRS §90.660.
At present, judgments totaling more than $1.3 million against Robinson and current Officer Rodriguez remain unpaid. The plaintiffs are seeking to prevent Mr. Rodriguez from enforcing the bankruptcy court judgment by filing a 523(a)(19) action.
David Liebrader’s law firm has been representing victims of investment fraud for nearly three decades. Recoveries for customers exceed $100 million. Call (702) 380-3131 for a free, confidential consultation.
The law firm of David Liebrader
write to us here