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Firm launches web site seeking information in gold fraud

Monday, April 25th, 2016

Pietrangelo Cook has launched www.wattsgoldcase.com, offering a reward for actionable information following a $22 million judgment for three firm clients in a federal fraud case.  The web site follows nearly three years of litigation.

On February 29, 2016, the United States District Court for the Western District of Tennessee determined that Defendants Cleal Watts III and Indico System Resources, Inc. had perpetrated a multi-million dollar gold fraud on the Plaintiffs. In reaching this conclusion, the Court granted the Plaintiffs “summary judgment” and awarded them $22 million in damages. In addition to making detailed findings of fact and conclusions of law detailing each step of the Defendants’ fraud, the Court issued a permanent injunction, effectively freezing the Defendants’ assets and barring any third-parties from aiding and abetting the Defendants in dissipating any of the subject funds.

The wattsgoldcase.com web site features downloads of critical pleadings in the case, as well as evidence considered by the Court in reaching its conclusion. The Plaintiffs hope the web site will assist in obtaining evidence and information necessary to execute on their judgment.

cleal watts

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