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Monday, January 04, 2016 12:49:03 PM
The suit alleges that the companies and Delaney engaged in fraud and misrepresentation. The lawsuit, alleged that Delaney and the investment group's other officers and directors "systematically and pervasively defrauded shareholders, mismanaged and diverted Patriots' funds, abused corporate authority" and other improprieties. The suit also alleges that Delaney of Newport Beach, his wife and son received excessive salaries and other payments over a three-year period--a total of more than $700,000--while investors suffered losses of $881,000.
Just curious if anyone can verify the above is our same Wilma I. Delaney, board member.
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