Sterling Currency Group Files Lawsuit Against AltCharge for $2 Million in Unpaid Funds
Atlanta, GA (PRWEB) May 12, 2012
Sterling Currency Group, LLC (SCG), announced today that it has filed a lawsuit against AltCharge (altcharge.com) and related individuals and entities. The lawsuit was filed in the District Court of Clark County, Nevada, and alleges numerous breaches of the contract between the parties. SCG, a leading e-commerce currency dealer, alleges that AltCharge is holding in excess of $2 million dollars of SCG’s funds in violation of the parties’ October 2011 contract.
Among the causes of action, the Complaint alleges breach of contact for non-payment of balance due; breach of contract for excessive reserves belonging to Sterling being held by AltCharge; conversion; money had and received; breach of fiduciary duty; alter ego; and punitive damages.
“We’ve spent a great deal of time, effort and money developing and integrating the eCheck system,” said Frank Bell, chief operating officer at Sterling Currency Group, “and are extremely disappointed in Altcharge’s actions. At this point, we are prepared to prosecute to the fullest extent of the law.”
According to the Complaint, AltCharge allegedly engaged in wrongful conduct when they collected funds from Sterling’s customers but failed and refused to make payments due to SCG. The lawsuit further alleges that AltCharge breached its fiduciary duty to SCG by refusing to provide SCG any verifiable information about the whereabouts of SCG’s funds.
Sterling Currency Group has been in business with an outstanding reputation since 2004 and is a registered Money Service Business with the United States Treasury Department. The company has extensive resources and is committed to exchanging currencies for its customers at any time.
Sterling Currency Group has been audited by the Bank Secrecy Act Compliance Department of the U.S. Internal Revenue Service and is fully compliant with government and industry regulations.
For more information on Sterling Currency Group, LLC, visit http://www.sterlingcurrencygroup.com or call 888-346-2771. Copies of the lawsuit and related documents (case A-12-659426-C) are available from the Clerk of the District Court for Clark County, Nevada at 601 North Pecos Road, Las Vegas, NV 89101; (702) 455-2385.