Alex Mendieta Wins Court Case
Gold and diamond dealer Alex Mendieta emerges victorious in the Supreme Court appeals in Victoria. Mr Mendieta’s company was accused of holding the diamonds given as a part of a collateralized loan to Ron Bensimon. ADTC, a diamond wholesale business, bought the charges against Mendieta which is thankfully now dismissed.
Once a reputable jeweller and now absolutely bankrupt, Bensimon used to be famous among celebrities and high rollers. These loaded individuals used to visit his main store in the crown casino mega-complex. All his profits turned sour when Mr Bensimon’s gambling addiction led him to rack up a debt of close to 12,000,000 dollars. This whopping amount is one of the most significant losses which has led to a person bankrupt in all of the horse betting online casinos and Melbourne crown casino’s history.
He was forced to declare bankruptcy after he had ripped off around 2 million dollars from his sister and parents. This amount was still not enough to cover the losses he had acquired from his misdeeds. The rest of the 12 million dollars was gathered from a lucrative scam where he used to get diamonds on consignment.
He used this method to acquire large quantities of diamonds on consignment from multiple diamond wholesalers. One such wholesaler was ADTC. It is estimated from court documents that this company, unfortunately, lost almost 1.5 million dollars on stock which was given to Mr Bensimon.
The lawsuit filed by ADTC against Mr Mendieta’s gold company claimed that five large diamonds with a wholesale value of over $250,000 were being withheld by his company Sell Your Gold Pty Ltd as well. These accusations arose from an affidavit made by Mr Bensimon, which was a part of his bankruptcy statement.
He named several businesses like Mr Mendieta’s who lend money with high-interest rates of up to 5% a month. His gambling addiction forced Mr Bensimon to take money from Mr Mendieta’s company.
Now the problem was that Mr Mendieta claimed that the diamonds in question had been already returned to Mr Bensimon whereas ADTC claimed that it was with Mr Mendieta. They argued that the diamonds were still that property and should be returned to them.
Thankfully there was clear evidence in the form of past text messages to prove that the diamonds were returned to Mr Bensimon. Most people will think that their liability should be finished when any deal gets completed; however, an archaic law which states that an individual is liable even if the deal gets concluded or completed. This redundant and frankly outdated law was being used as a weapon by ADTC’s legal team.
The Victorian County Court judge after some months ruled in favour of a DTC, however, this was followed by an immediate appeal in the supreme court by Mr Mendieta’s legal team. The famous commercial lawyer, Sazz Nasimi, along with other top-rated barristers and a QC was hired to win the case. The hiring of this brilliant legal team came to fruition as the Supreme Court overturned the decision made by the county court.
ADTC was forced to pay legal fees and related expenses that were incurred by the young businessman’s company. We can only imagine, as he has refused to comment, the frustration and tension of Paul XXX, the director of ADTC. He not only lost close to $2000000 to the scam artist Bensimon but also had to pay around legal fees of around $250,000 as well as the court settlement fees.