Prime Capital Corporation
Soneet R. Kapila was the Chapter 7 Trustee of this multi-million dollar accounts receivable factoring business and Ponzi scheme. The principals of the corporation sought and entered into joint ventures with prominent wealthy groups to finance the purchase of commercial accounts receivable from private industry. The Trustee investigated the business conduct of this Debtor wherein money was raised in significant amounts and fraudulently transferred to repay the capital of several investors. He recovered several million dollars for the creditors with a distribution of 40%.
As Trustee, Mr. Kapila vigorously pursued recovery of additional fraudulent transfers from various investors. He litigated aggressively in the face of a very able defense team of national law firms and an international accounting firm. KM investigated voluminous records to demonstrate insolvency and the operation of a Ponzi scheme.