NY AG Gets Default Judgment For Tech Startup's $30M Scam

Law360 (October 10, 2019, 7:41 PM EDT) -- A shuttered Long Island tech startup accused of defrauding investors out of at least $30 million is at the mercy of a New York state court after failing to respond to allegations by the state's attorney general, the attorney general's office said Thursday.

By not responding sooner to New York Attorney General Letitia James' lawsuit, Cardis Enterprises International Inc. and some of its associated entities and principals face whatever penalties New York State Supreme Court Judge Peter O. Sherwood sees fit to impose, James said. A default judgment order was entered in the case Oct. 3.

"Individuals who sell false promises...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS