Trackfinders Music Group v. Baoming Group

VERDICT

Trial
10/26/15 – 10/29/15

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Summary

In this suit, plaintiff allegedly agreed to invest $250,000 to lease an instrument called a "Bank Guarantee" from the Baoming Group, a Hong Kong Company; Jeffrey Cole put plaintiff in touch with Baoming's US agents, Baomnig Group LLC and Jefferson Blair. Plaintiff allegedly paid the money to Baoming Group LLC and Blair and it allegedly disappeared.

Outcome

Verdict for Plaintiff.

Defendants Baoming Group, LLC, Jefferson, Blair, and Jeffrey Cole were all found to have committed fraud.

Damages for Fraud: $250,000
Expenses: $5,000

Apportionment of fraud damages: Jefferson Blair 100%, Baoming Group 0%, Jeffrey Cole 0%

Liquidated damages for breach of contract: $2,000,000 plus interest
Expenses: $5,000

Apportionment of liquidated damages: Baoming Group 50%, Jefferson Blair 50%

Unjust enrichment (plaintiff does not get a separate recovery for unjust enrichment); $250,000

Apportionment of unjust enrichment damages: Baoming Group 50%, Jefferson Blair 50%.

TOTAL VERDICT:

Liquidated damages for breach of contract: $2,000,000 (+interest)
Fraud: $250,000
Expenses: $10,000

TOTAL: $2,260,000 (+ interest)

Rockdale County State Court

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Recording Disclaimer: This proceeding was recorded in full.

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