SHREVEPORT – Two individuals and a Shreveport company are being sued by an investor over allegations his investment was not returned as promised.

Raymond Stafford filed a complaint on Feb. 10 in the U.S. District Court for the Western District of Louisiana, Shreveport Division against Walter J. Stanton III, David deBerardinis and Financial Resources LLC alleging negligence and breach of fiduciary duty.

According to the complaint, the plaintiff alleges that in February 2016, Stanton contacted him to invest in deBerardinis and FR's business and stated that a bridge loan would return the initial investment plus 10 percent profit within 60 days. The suit states that on March 17, 2016, the plaintiff completely invested $2.5 million. To date, no portion of the $2,750,000 allegedly had yet been made.

The plaintiff holds Stanton III, deBerardinis and Financial Resources LLC responsible because the defendants allegedly have failed to make payments for the said amount and defendant Stanton falsely represented that deBerardinis and FR were in excellent financial condition.

The plaintiff requests a trial by jury and seeks judgment in his favor, for $2,750,000, plus interest thereon at the rate of 40 percent per annum until paid and costs of these proceedings. He is represented by John R. Walker of Jones Fussell in Covington.

U.S. District Court for the Western District of Louisiana, Shreveport Division Case number 5:17-cv-00262

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U.S. District Court for the Western District of Louisiana Shreveport Division
300 Fannin Street
Shreveport, LA 71101

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