NEW ORLEANS – A New Orleans corporation has filed suit against a Jefferson Parish man who it alleges he misappropriated funds from it.
Venture CCR of New Orleans LLC sued Stanton Ripp, LDE Holdings LLC and SNR Development LLC in Orleans Parish Civil District Court after Ripp allegedly misappropriated funds.
The lawsuit states Ripp was employed by the plaintiff for more than 10 years in a managerial position where he was trusted with handling the plaintiff’s assets.
The plaintiffs allege Ripp misappropriated and converted their assets for his personal benefit. The plaintiffs contend Ripp admitted to such activity in March after at first denying the claims. It was allegedly first reported Ripp misappropriated more than $65,000, however, after further investigation plaintiffs claim the misappropriated fund actually totaled more than $375,000.
To date, Venture says that Ripp has failed to restore the plaintiff’s assets despite his alleged prior willingness to cooperate.
The plaintiffs also hold LDE and SNR liable because they believe Ripp formed these entities to deprive them of the return of their assets.
The plaintiffs seek compensation for the money Ripp converted and misappropriated as well as expenses incurred as a result of litigation.
Venture is represented by attorney Eric A. Holden of River Ridge. The case has been assigned to Division A Judge Tiffany G. Chase.
Orleans Parish Civil District Court Case number 15-06881.