General World News

Vishal Garg ruled to pay $5.5M in a decade-long lawsuit

A New York jury found Vishal Garg, CEO and founder of digital mortgage lender, liable for breach of fiduciary duty and conversion in a decade-long lawsuit filed by his former partner, Raza Khan. Garg intends to appeal. 

The court ordered Garg to pay $5.5 million to Educational Investment & Finance Corporation (EIFC), the company the partners founded in 2009. This includes $2.3 million for breach of fiduciary duty, $2.2 million for conversion, and $1 million for punitive damages. 

The resources will be directed to pay the firm’s creditors, including Internal Revenue Services (IRS) and Garg, who loaned at least $2.5 details ⇒

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