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GERAGOS SUES YEGHIAYAN ALLEGING FRAUD IN GENOCIDE SURVIVOR SETTLEMENTS
asbarez
Monday, March 14th, 2011
Geragos (left) is pictured here with Phil Angelides, Brian Kabateck
and Vartkes Yeghiayan (far right)
LOS ANGELES-Attorneys Mark Geragos and Brian Kabateck filed a law suit
in Los Angeles County Superior Court Friday, alleging their one-time
partners in the Genocide survivor insurance settlement case, Vartkes
Yeghiayan and Rita Mahdessian defrauded the community by diverting
settlement funds to fictitious charities, reported the Daily Journal
Monday.
The suit alleges that the funds were to be donated to existing
community organizations, as mandated by the ruling on two class action
law suits in Los Angles federal court that sought life insurance
money for family and descendants of the Armenian Genocide survivors
and victims.
In the lawsuit, Geragos and Kabateck are alleging that Yeghiayan
and Mahdessian misappropriated some $1 million slated for Armenian
community organization in what is known as a cy pres settlement-funds
that are to be distributed to charity instead of individuals.
One such organization cited in the lawsuit goes by the name of
Coservatoire de la Memoire Armenienne, which the suit alleges is
listed at a non-existent address on Avenue des Champs Elysee. The
Daily Journal reported that the charity received $300,000 out of the
$3 million settlement money earmarked for community organizations in
the original lawsuit. This sum was earmarked to be distributed to
France-based Armenian organizations to be allocated to educational
programs to assist the needy.
"It's extremely disturbing," Geragos told the Daily Journal, while
Kabateck said he was "personally disgusted."
Yeghiayan denied the allegations made in the lawsuit in an interview
with the Daily Journal, adding that Geragos and Kabatech were "pissed
off" because they were left "out of" other Genocide settlement cases.
In discussing the case with the Daily Journal, Yeghiayan accused
Geragos and Kabateck of "hoarding more than $17 million," reported
the Daily Journal.
The lawsuit seeks unspecified damages. The cases in question were
against New York Life and other insurance companies and were settled
in 2004 and 2005.
Follow Asbarez for late-breaking information on this story.
From: A. Papazian
asbarez
Monday, March 14th, 2011
Geragos (left) is pictured here with Phil Angelides, Brian Kabateck
and Vartkes Yeghiayan (far right)
LOS ANGELES-Attorneys Mark Geragos and Brian Kabateck filed a law suit
in Los Angeles County Superior Court Friday, alleging their one-time
partners in the Genocide survivor insurance settlement case, Vartkes
Yeghiayan and Rita Mahdessian defrauded the community by diverting
settlement funds to fictitious charities, reported the Daily Journal
Monday.
The suit alleges that the funds were to be donated to existing
community organizations, as mandated by the ruling on two class action
law suits in Los Angles federal court that sought life insurance
money for family and descendants of the Armenian Genocide survivors
and victims.
In the lawsuit, Geragos and Kabateck are alleging that Yeghiayan
and Mahdessian misappropriated some $1 million slated for Armenian
community organization in what is known as a cy pres settlement-funds
that are to be distributed to charity instead of individuals.
One such organization cited in the lawsuit goes by the name of
Coservatoire de la Memoire Armenienne, which the suit alleges is
listed at a non-existent address on Avenue des Champs Elysee. The
Daily Journal reported that the charity received $300,000 out of the
$3 million settlement money earmarked for community organizations in
the original lawsuit. This sum was earmarked to be distributed to
France-based Armenian organizations to be allocated to educational
programs to assist the needy.
"It's extremely disturbing," Geragos told the Daily Journal, while
Kabateck said he was "personally disgusted."
Yeghiayan denied the allegations made in the lawsuit in an interview
with the Daily Journal, adding that Geragos and Kabatech were "pissed
off" because they were left "out of" other Genocide settlement cases.
In discussing the case with the Daily Journal, Yeghiayan accused
Geragos and Kabateck of "hoarding more than $17 million," reported
the Daily Journal.
The lawsuit seeks unspecified damages. The cases in question were
against New York Life and other insurance companies and were settled
in 2004 and 2005.
Follow Asbarez for late-breaking information on this story.
From: A. Papazian