MIAMI, Jan. 15, 2009 (GLOBE NEWSWIRE) -- Dimond Kaplan & Rothstein, P.A. announced today that it has commenced a class action lawsuit in the United States District Court for the Southern District of Florida on behalf of a putative Class consisting of all persons and entities who provided moneys to Defendants George Theodule; Creative Capital Consortium, LLC; A Creative Capital Concept$, LLC; Dorothy Delisort-Theodule; Yolette Theodule-Williams; Mario Theodule; Julius Theodule; or Yves Theodule (collectively, the "Defendants"); or to individuals or entities who were raising funds on behalf of any of those Defendants, for purposes of "investing" in Defendants' fraudulent Ponzi scheme (the "Class"), from January 2007 through today and thereafter ("Class Period").
Excluded from the Class are: Defendants, including their subsidiaries, affiliates, and their collective officers, agents, and employees; any "investment clubs" that solicited moneys on behalf or at the direction of Defendants; any officers, directors, principals, managers, or employees of any such investment clubs; members of the extended families of each Defendant, together with their heirs, successors and assigns; and individuals or entities who provided moneys to Defendants, or to individuals or entities who were raising funds on behalf of Defendants, for purposes of "investing" in Defendants' fraudulent Ponzi scheme, but who received back moneys in excess of the amount "invested."
If you wish to serve as lead plaintiff for the Class, you must file a motion with the Court no later than sixty (60) days from today. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests, please contact Plaintiff's counsel, Jared A. Levy, Esq. of Dimond Kaplan & Rothstein, P.A., at (561) 671-1920. If you are a member of this Class, you can view a copy of the Complaint as filed in this class action online at http://admin.dkrpa1.lawoffice.com/CM/Custom/Firm-News.asp Any member of the purported Class may file a motion with the Court to seek to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain a silent class member.
The Complaint charges Defendants with perpetrating a Ponzi scheme by which the Class members were defrauded out of significant moneys. The Complaint alleges that Defendants - soliciting investments largely from the Haitian community - misrepresented to the Class that the principal amount invested was guaranteed at a "zero-loss," and that pursuant to Defendants' investment "strategies," the Class Members' moneys would double in value every three months. The crux of the case is that Defendants failed to inform the Class that: (1) any and all investment returns were dependent on contributions of moneys from new investors; and (2) that Defendants intended simply to steal the Class Members' moneys pursuant to a fraudulent Ponzi scheme. Finally, the Complaint alleges that Defendants have failed to honor the Class Members' withdrawal requests, causing losses to the Class.
Plaintiffs seek to recover damages on behalf of the Class, and have brought claims under the Securities Exchange Act of 1934 and the Securities Act of 1933 for fraud in connection with securities transactions and for selling unregistered securities, as well as claims under the common law for breach of fiduciary duty and unjust enrichment.
Plaintiffs are represented by Dimond Kaplan & Rothstein, P.A., whose lawyers have extensive experience in matters of this nature. The attorneys of Dimond Kaplan & Rothstein, P.A. focus their practice on class actions and complex commercial litigation in federal and state courts, as well as securities arbitration matters relating to stockbroker misconduct. Dimond Kaplan & Rothstein, P.A. is well known and respected in the South Florida legal community as honorable and diligent counsel. Dimond Kaplan & Rothstein, P.A. has offices in Miami and West Palm Beach, Florida. For more information, please feel free to visit Dimond Kaplan & Rothstein, P.A.'s website at www.dkrpa.com, or to contact Jared A. Levy, Esq. at (561) 671-1920.
The Dimond Kaplan & Rothstein, P.A. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4684