Peter Brown & Associates Announce That Lyceum Partners, Jacob Katsman and Kramer Levin Naftalis & Frankel Have Been Sued in N.Y. Supreme Court for a Financial Scheme

Plaintiffs Seek to recover $20 Million Lost in Alleged Loan Fraud

NEW YORK--()--Peter Brown & Associates PLLC today announced that it has filed a $20 million lawsuit in the New York Supreme Court in Manhattan against Lyceum Partners, LLC, Jacob Katsman a/k/a Yakov Katsman, and Kramer Levin Naftalis & Frankel LLP. The lawsuit was filed on behalf of Mr. J. Lohajaroensub and two other residents of Thailand.

The Plaintiffs were the owners of 500 million shares of stock in a Thai public company. They claim that Lyceum Partners, with the active participation of Mr. Katsman and the Kramer Levin law firm, deceived them into surrendering their valuable stock for promised loans. The Complaint alleges that the Plaintiffs suffered damages of at least $20 million.

Lyceum Partners is a Madison Avenue-based financial firm. Mr. Katsman, a resident of Roselyn Heights, New York, is the controlling owner of Lyceum Partners. He is also the Chairman of GlobalTrade Corporation, a Canadian software firm, and the author of the book “How to Make Money Without Money: The Art of Transferable Letters of Credit and Assignment of Proceeds.” Kramer Levin is a leading New York law firm with an active corporate practice.

The Complaint asserts claims of fraud, breach of contract, breach of fiduciary duty and related allegations. The Supreme Court index number is 651829/2017.

The pleadings disclose an organized effort to defraud my clients using sophisticated legal documents to conceal the underlying scheme,” said Peter Brown, the plaintiffs’ counsel. “Within one week of the transfer of my clients’ stock, 100% was sold and the proceeds were hidden in foreign bank accounts controlled by Lyceum.”

About Peter Brown & Associates PLLC

Peter Brown & Associates PLLC is a boutique New York law firm focusing on litigation, arbitration and information technology. Mr. Brown has over thirty years of experience in federal and state litigation. He has conducted numerous jury trials and appeals. The firm and Mr. Brown are frequently highly rated by “Best Law Firms,” “The Best Lawyers in America” and “SuperLawyers” as outstanding national or regional practitioners.

Contacts

Peter Brown & Associates PLLC
Peter Brown, 212-939-6440
pbrown@browntechlegal.com

Release Summary

Peter Brown & Associates has filed a lawsuit in the NY Supreme Court against Lyceum Partners, Jacob Katsman and Kramer Levin Naftalis & Frankel. The claims relate to a business fraud.

Peter Brown & Associates PLLC