KT EngCore Corporation v. ASI Corporation, et al.

Analysis Group was retained by Greenberg Traurig to assist KT EngCore, the plaintiff in a breach of contract lawsuit stemming from a multibillion-dollar Ponzi scheme committed by Moneual, a South Korean hardware manufacturer.

KT EngCore, a subsidiary of the South Korean telecom company KT Corporation, acted as the middleman in an arrangement between the defendant, ASI Corporation, and Moneual to export and sell home theater personal computers. Moneual ultimately used this arrangement as part of its fraudulent scheme.

While KT EngCore provided the export-related services it was contractually obligated to deliver, ASI refused to compensate KT EngCore, alleging that it never received the home theater personal computers. KT EngCore subsequently sued ASI, claiming that it had unknowingly been the victim of Moneual’s Ponzi scheme and that it had suffered losses as a result of ASI’s breach of contract.

An Analysis Group team led by Vice President Federico Temerlin supported Managing Principal Justin McLean, who testified that KT EngCore was entitled to $31,415,055 in damages. The jury in a California state court found in KT EngCore’s favor and awarded the company the exact amount of damages Mr. McLean had recommended.