FREDY RAMSOONDAR OWES $2MILLION $250 THOUSAND PLUS INTERESTOn August 28, 2015 Judge Jed Rakoff released the dollar award Fredy Ramsoondar owes FGI.
The document is public and is available online.
In part it states, "First, FGI is entitled to recover $1,087,774.44 of the $1,333,073.60 that FGI claims as a principal balance. This reflects the principal balance at the time of United Protection's bankruptcy less the foreign exchange fees the Court now holds were improperly charged to United Protection.
Second, FGI is entitled to recover the $1,162,657.92 claimed as expenses incurred in enforcing and protecting its rights under the Sales Agreement and guaranty.
Third, FGI is entitled to recover the interest and collateral management fees due on the principal balance of $1,087,774.44 as well as the $270 wire fee.
Be interesting to see the fallout now. Proof to many that what happened to United Protection was directed by the now "judged" Fredy Ramsoondar. Thanks to Judge Rakoff and this judgement which is enforceable in Canada, and the still outstanding Alberta lawsuit against Fredy Ramsoondar by FGI, there may be some type of justice after all.