Crypto Scam Victim Files Motion for Sanctions Against Almax Financial Solutions
On Wednesday, November 13, 2024, Maria Pihl filed a memorandum of law in the US District Court for the District of New Jersey in support of her motion for sanctions against Almax Financial Solutions, LLC, and its principal, Mark C. Schultz. Pihl’s memorandum requests the court to impose sanctions due to the defendants’ failure to comply with a court order and their non-appearance for depositions.
In her filing, Pihl alleges that she was defrauded by an imposter posing as Almax Financial Solutions, a registered broker-dealer with the Financial Industry Regulatory Authority (FINRA). According to the memorandum, Pihl mistakenly engaged with this fraudulent entity in an attempt to recover a $4,000 investment lost to a cryptocurrency scam. The imposter allegedly utilized a spoofed website that misrepresented itself as Almax, leading Pihl to believe she was dealing with a legitimate financial institution.
The memorandum outlines that the fraudulent website featured Almax’s name and contact information, which misled Pihl into thinking she was engaging with a FINRA member. Pihl claims that after hiring the imposter, she was coerced into paying approximately $188,481.70 to recover her lost investment and secure her personal information, which she believed was at risk. Pihl subsequently reported the fraudulent activity to multiple authorities, including the Swedish police and the New Jersey Bureau of Securities.
Pihl’s legal team states that Defendants Almax and Schultz have failed to respond adequately to discovery requests and have repeatedly postponed deposition dates. Pihl filed her initial complaint on September 27, 2023, and since then, attempts to schedule depositions have been met with delays. Defendants’ counsel cited Schultz’s health issues as the reason for the postponements, including a recent surgery and a car accident.
Despite these claims, Pihl’s memorandum argues that the defendants did not provide sufficient documentation to substantiate their reasons for failing to appear for deposition. After a series of communications and rescheduling attempts, Pihl asserts that the defendants have not demonstrated a good faith effort to comply with court orders. The court had previously ordered Schultz to appear for a deposition by November 6, 2024, which he did not attend.
Pihl’s legal counsel, Amanda M. Cunha, cites Federal Rules of Civil Procedure 37(b)(2)(A) and 37(d)(1)(A)(i) in support of the sanctions request. These rules allow the court to impose penalties on parties that fail to comply with discovery orders. Pihl seeks the reimbursement of reasonable expenses, including attorney’s fees, incurred as a result of the defendants’ noncompliance.
The memorandum highlights that Pihl has made multiple requests for deposition dates and has shown considerable patience regarding the defendants’ health issues. However, she contends that the lack of timely communication and failure to adhere to court orders is unacceptable and warrants sanctions.
Pihl’s motion for sanctions is scheduled for a hearing on December 16, 2024.
Please contact BlockTribune for access to a copy of this filing.
