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Investors with Richard Lachina (also spelled La China and LaChina) were awarded $1.041 million plus $1 million in punitive damages today (Jan. 28) by Judge James W. Meyers in Bankruptcy Court. San Diego attorney Robert Scott Dreher described Lachina as a "serial Ponzi schemer" in a state court suit filed in 2008. He had sold investors shares in AXXIS, two Big Bear real estate schemes, and a condo in Costa Rica, taking the money raised in one scheme to pay off investors in another, according to the suit. Lachina then filed Chapter 7 bankruptcy in 2009, staying the suit. Dreher challenged the discharge of the bankruptcy on the basis of fraud and breach of fiduciary duty. That led to Meyers's awards today.

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Comments

SurfPuppy619 Jan. 28, 2011 @ 6:24 p.m.

Meyers is a pinhead,amazing they got anything with that alzheimer clown in charge.

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Don Bauder Jan. 28, 2011 @ 7:30 p.m.

I disagree. I have been involved as a journalist in cases Meyers handled. He did them well. Best, Don Bauder

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SurfPuppy619 Jan. 28, 2011 @ 10:16 p.m.

I have appeared before him and he should be removed from the bench IMO-not just him but the other idiot there too-Peter Bowie.

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Ponzi Jan. 29, 2011 @ 7:13 a.m.

When you owe the bank a thousand dollars you’re in trouble, when you owe the bank a million dollars, they’re in trouble.

A judgment is one thing, getting blood out of that turnip Lachina is another

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Don Bauder Jan. 29, 2011 @ 7:24 a.m.

Agreed. How many of these judgments are ever paid? Good subject for some PhD candidate to study for a dissertation. Best, Don Bauder

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SurfPuppy619 Jan. 29, 2011 @ 10:33 a.m.

This comment was removed by the site staff for violation of the usage agreement.

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Don Bauder Jan. 29, 2011 @ 1:37 p.m.

He had a project in Costa Rica. Are you suggesting he may have done his banking there, too? Best, Don Bauder

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Ponzi Feb. 1, 2011 @ 8:31 a.m.

About a year ago he posted a profile on match.com looking for dates with women. At the time he stated he lived in Middletown, California.

http://keepingtabsonrichardlachina.blogspot.com/2010_01_01_archive.html

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Don Bauder Feb. 1, 2011 @ 2:16 p.m.

Oh yes, I believe I posted that. I understand he has his own website. Best, Don Bauder

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