Brandon Hernández 9 a.m., Aug. 29
Lachina Victims Win Judgments
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.