California Lawyer Accused of $10 Million Fraud Scheme; Ex-Husband Flees to Morocco

Sara Jacqueline King and her credit company King Family Lending based in Newport Beach (California) are the subject of a complaint for fraud. The California lawyer is accused of having defrauded $10 million from the company LDR International Ltd. based in the British Virgin Islands, in order to facilitate loans to clients in the United States. According to the complaint, the plaintiff invested this sum in the credit company, granting 97 different loans to King Lending from January 2022 to October 2022. The collateral consists of yachts, diamonds, Aston Martins, Lamborghinis, but also sports contracts for the National Hockey League, Major League Baseball, National Football League, Major League Soccer and National Basketball Association.

When the loans came due, King did not repay LDR. She claimed that more than $6.3 million in loans had been repaid and "redeployed" to finance other loans when there had been no loan to a third party and, consequently, no repayment of loans to third parties," the complaint states. The lawyer only paid LDR the $2 million in interest. The loan principal of over $10 million is still owed while the lawyer claims to have only $12 in her bank account. Has the money disappeared? In its complaint, LDR claims that the defendant squandered the funds by moving to the Wynn Las Vegas hotel, where she lived for six months and played 24/7, to finance an extravagant lifestyle, etc.

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In the wake of this, King’s ex-husband "has since fled to Morocco," the complaint reads. LDR is convinced that "King has engaged in massive fraud." And she is no stranger to misconduct. Previously, the lawyer had been accused of not repaying a $125,000 loan and a $62,000 loan. Not to mention a default judgment for a debt owed to Citibank.