A big win for the Colombian-born gold, and diamond dealer Alejandro Mendieta in the supreme court, of appeals in Victoria. The court battle began when ADTC, a Collins St based diamond wholesale business, charged Mr. Mendieta’s company withholding diamonds given as part of a collateralized loan to present insolvent jeweler Ron Bensimon.
Ron Bensimon was a reputable jeweler. His main store is in the Crown Casino mega-complex, where he made diamond rings for many celebrities and sumptuous. However, it all came to an end when Mr. Bensimon’s gambling problems had accumulated losses close to 12,000,000 dollars. From bankruptcy documents acquired, it is known, his biggest betting losses occurred from online casinos, horses, and Melbourne Crown Casino.
Mr. Bensimon was compelled to declare bankruptcy had by then ripped off almost 2,000,000 dollars from his family. Rest $12,000,000 he obtained from other companies where he was running a money-making scam of getting diamonds on the conditions of the consignment.
In the lawsuit of ADTC vs. Mr. Mendieta’s company, 5 big diamonds were in question with a retail value of just over 500,000 Australian Dollars. ADTC was claiming that Mr. Mendieta’s company, “Sell Your Gold Pvt Ltd,” was yet holding the 5 diamonds in question. As part of his bankruptcy statements,
Mr. Bensimon accused multiple businesses like Mr. Mendieta’s. He used to lend money on goods at a high interest of up to 5% a month. Mr. Bensimon would take the money for his gambling addiction.
ADTC claimed that it was still the proprietor of those diamonds and therefore had to be returned. However, Mr. Mendieta claimed that the 5 diamonds had been returned to Mr. Bensimon. Before the court, he produced clear proof of past text messages showing the sending back of the diamonds to Mr. Bensimon.
After a few months, the Victorian County Court judge was in favor of ADTC, however, Mr. Mendieta’s legal team appealed to the Supreme Court as well. As a representative of Famous commercial Lawyer Sazz Nasimi, they recruited a 5-star legal team of barristers and a top QC.
The dispute came to an end when The Supreme Court of appeals overturned the decision made by the county court, giving a victory to the young business icon. As per the new court’s decision, ADTC was compelled to pay all legal fees and requisite expenses incurred by Mendieta’s company.
We can estimate that ADTC’s offering to the Colombian gold dealers to be around $200,000. Yet, the amount of settlement was not disclosed publicly, so only an estimation can be made. On top of that, it is estimated ADTC incurred an expense of around $250,000 at their legal fees.
Just imagine once the frustration and the grudge of Paul XXXX, director of ADTC, after losing almost $500,000 in the battle of the lawsuit, not inclusive close to $2,000,000 of scamming artist Ron Bensimon. When we went to ask Paul XXXX, he refrained from giving any comment.