Orlando, FL, Aug 01, 2019 — Freddy Russian and his company American Private Equity based in Tampa, Florida found guilty of Fraud and Breach of Contract in U.S. Federal Court. Plaintiff The Prosyon Group was awarded nearly $1 million after a 4 day trial on June 26, 2019.
An eight person jury unanimously decided against Freddy Russian and his firm for Fraud & Breach of Contract after a four day trial based on insurmountable evidence and witness testimony. The verdict is related to M&A services rendered by The Prosyon Group after it was contracted when Freddy Russian and his firm couldn’t deliver for Brazil-based Quimatec Produtos Quimicos.
The Prosyon Group not only procured a buyer in Solenis Inc but also provided advisory services to Quimatec management and the two shareholder families in what resulted in a successful transaction. However, once the work was completed Freddy Russian and his firm chose to not honor the original contract and engage in fraudulent activities to do so as was determined in U.S. Federal Court. The Prosyon Group provides M&A consulting services to families and international financial and strategic buyers.