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Texas Construction Co. Faces $4M Loan Advance Fraud Suit

Law360 (February 5, 2019, 4:58 PM EST) -- A lending company slapped an energy-focused construction firm and its owner with a lawsuit in Texas federal court Monday, alleging they owe more than $4 million after the now-defunct business fraudulently obtained multiple advances on a loan and defaulted on its financing agreement.

According to Princeton, New Jersey-based North Mill Capital, Texan Rentals & Lease Services LLC, doing business as Texan Energy Services, and owner Mohommad Nadeem Sheikh forged more than 900 invoices in order to obtain advances on a $10 million commercial business loan. Texan Energy and Sheikh’s allegedly fraudulent activity constituted a nonmonetary default on the loan agreement, which,...

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Case Information

Case Title

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Case Number

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Court

Texas Southern

Nature of Suit

150(Contract: Recovery/Enforcement)

Date Filed

February 4, 2019

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