HOUSTON — A suit alleges a Harris County business owner is operating a scheme to create business entities in order to hide assets from creditors.
George Lee, as assignee, filed a complaint March 18 in Harris County District Court against Jetall Companies Inc., VGRP Holdings LLC, Shepherd-Huldy Development I LLC and Mohammed Ali Choudhri alleging violation of the Texas Uniform Fraudulent Transfer Act.
Lee, who is an assignee of a final judgement, alleges in his complaint that Choudhri uses his buisness Jetall, as well as other businesses, as "sham" entities, to "hide assets, evade creditors and shield his identity."
Lee specifically claims that Choudhri and Jetall Companies use multiple bank accounts "as a personal piggy bank" to pay off debt and expenses for entities even if the debt does not belong to that particular entity.
Lee alleges that on March 11, 2019, VGRP became incorporated and on March 27, 2019, the entity acquired real property in Houston and that similarly in 2018, the Huldy entity was incorporated and then acquired real property in Houston. He alleges the properties were acquired "with commingled funds" in violation of Texas' Uniform Fraudulent Transfer Act.
Lee seeks monetary relief between $100,000 and $500,000, interest and all other just relief. He is represented by T. Michael Ballases and Brice Beale of Hoover Slovacek LLP in Houston.
Harris County District Court case number 2021-15696