The allegations read: On 3/11/2020 plaintiffs filed a lawsuit against boston finance group, llc ("bfg" - an affiliate of boston asset management, inc.). The complaint was later amended on 10/8/2020 to include leo govoni and other individual defendants. The complaint was amended again on 4/22/2024 to allow plaintiffs to seek punitive damages.
the matter involves a loan made in 2011 by bfg to prospect funding holdings llc ("prospect"). pursuant to the loan agreement, bfg was permitted to sell loan participation interests, which was purchased by plaintiffs in december 2015. Prospect provides pre-settlement funding to potential and actual plaintiffs for matters usually personal injury in nature. An investment of this type is considered high-risk. Prospect defaulted on the loan agreement in 2019. The allegations against govoni include counts for unjust enrichment, aiding and abetting fraudulent misrepresentation, aiding and abetting fraudulent concealment, civil conspiracy and declaratory relief.
