#United States #Austin #Fintiv #Oxford Gray #Michael Liberty

Oxford Gray Corporation Files Lawsuit Against Fintiv

In a significant legal move, Oxford Gray North America Corp., commonly referred to as Oxford Gray, has filed a breach of contract lawsuit against Fintiv, an Austin, Texas-based company also known as Mozido, seeking damages exceeding $9 million. This lawsuit was officially filed in the Travis County District Court in Austin, highlighting a complex financial dispute centered around a series of promissory notes issued by Oxford Gray to Fintiv, which were allegedly defaulted on.

Allegations Against Fintiv

The suit alleges that Fintiv borrowed a substantial sum—totaling $5 million—under various promissory notes, which were secured by an agreement to pay back both principal and interest as scheduled. However, Oxford Gray claims that Fintiv failed to make these payments on time, resulting in a breach of contract that left the company indebted by more than $9 million.

The legal filings indicate that the repayments were critical to the operations and financial health of Oxford Gray, and the continued neglect of payment obligations could severely impact their business dealings.

Connection to Criminal Indictments

This legal dispute is compounded by its connections to a prior criminal indictment of Michael Liberty, the individual leading and controlling Fintiv. According to court documents, the ongoing case underscores broader concerns about a past scheme designed to defraud investors, which led to a criminal indictment against Liberty in 2019. The Justice Department described this as part of a larger fraudulent endeavor that has haunted Liberty’s business dealings.

Interestingly, Liberty’s past legal troubles do not end there. While he was pardoned by former President Trump for these allegations, the pardon does not absolve him from his obligations in the current civil proceedings initiated by Oxford Gray. Lanny J. Davis, the attorney representing Oxford Gray, stated that while the pardon was a significant point in Liberty's legal journey, it does not shield him from the civil lawsuits pending against him, including this one from Oxford Gray.

Separate Legal Action in Florida

In addition to the lawsuit filed in Texas, Oxford Gray has initiated a separate legal action in Florida, where it seeks to enforce a personal guarantee signed by Liberty related to one of the promissory notes. This dual-pronged approach suggests a comprehensive strategy by Oxford Gray to recover its losses and ensure accountability from Liberty and Fintiv. The Florida action explicitly demands that Liberty honor his guarantee on outstanding debts owed by Fintiv, amplifying the complexities of the situation.

Public Statements and Future Implications

Davis held a press conference recently, addressing the media regarding these lawsuits. He expressed confidence in achieving justice for Oxford Gray and emphasized the importance of holding accountable those who default on financial agreements. Furthermore, he stressed that this matter is not merely a legal fight for restitution; it raises concerns about ethical practices in business management and investor confidence in companies led by individuals with contentious legal histories, such as Liberty.

As this case unfolds, the implications for both Oxford Gray and Fintiv could be profound, affecting their reputations and futures in their respective markets. For Oxford Gray, recovering the funds owed could potentially stabilize their operations, while for Fintiv, the repercussions of this lawsuit present a critical challenge in maintaining investor trust.

As the legal proceedings continue, stakeholders across the industry are urged to monitor developments closely. The outcomes may influence not only the parties involved but also signal to the wider business community about the importance of honesty and integrity in contractual agreements.

In conclusion, the lawsuit against Fintiv is not just a battle over dollars but a pivotal moment that could redefine the operational landscape for both companies involved, highlighting the significant and often contentious nature of corporate finance and legal accountability.