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Investor says his signatures were forged, causing him to lose $200K
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Posted on Jul 22 2019
A Chinese investor and his company are suing two corporations in federal court, claiming that his signature had been forged, causing the fraudulent transfer of his $200,000 worth of shares, change of the company’s name, and his resignation from the board.
Chimeng Science & Technology Co. Ltd. and Junjie Wu are suing Black Bison Travel Corp., Jili Corp., and 10 other unnamed co-defendants, for fraud, conversion, breach of contract, unjust enrichment, and fraudulent transfer.
CST and Wu, through counsel Colin M. Thompson, asked the U.S. District Court for the NMI to hold Black Bison Travel Corp., Jili Corp., and co-defendants liable to pay them damages, court costs, and attorney’s fees.
According to the complaint, Ji Li Corp. was established under CNMI laws in 2011 and that Wu, as president and corporate representative of CST, had invested in Ji Li in late 2016.
CST allegedly began at this time paying all employee salaries, bought vehicles, made improvements to buildings and fixtures as well as other investments in Ji Li.
On June 11, 2017, Wu was elected president and treasurer of Ji Li after he invested $200,000 in exchange for 200,000 shares of the company.
Thompson said that on March 21, 2018, a Ji Li board meeting was held in which it was resolved to change the company name to Black Bison Travel Corp.
Thompson said the meeting minutes indicate that it was Wu who called the meeting, yet Wu never called the meeting and his signature had been forged.
On April 12, 2018, a document was executed that shows that CST transferred its 200,000 company shares to vice president Hai Ying Jiang for $200,000. Thompson said Wu never transferred any shares from CST to Jiang and that his signature on this document was again forged.
Thompson said Wu’s signature was also forged in an amended articles of incorporation indicating that Jiang holds 450,000 shares and Wu hold only 50,000 shares.
The lawyer said Wu’s signature was also forged in a letter dated Sept. 10, 2018, indicating that he resigned from the company.
Thompson accused the defendants of several lies and of engaging in an ongoing fraudulent enterprise.
