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October 31, 2019

Lead Generators Accused of Fraud

A mass tort lead generator firm was accused by its investors of fraud, who alleged they were misled about the potential returns on their investments, Reuters reports.

The investors, a group of plaintiffs’ lawyers, gave $3 million to the firm in exchange for a 100,000 mass tort cases by the end of this year, which the firm, TRC Funding, said would lead to $100 million to $500 million in revenue. The plaintiffs’ lawyers say they have lost their entire initial investment after learning that TRC Funding and the underlying businesses it used to generate leads were millions of dollars in debt and relied on an “unstable” business model.

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