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...

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