Summary Judgment Against Mukund Vasa
In an investment dispute between a local Indian Physician (name withheld) and Mukund Vasa, the court has granted a motion for summary judgment against Vasa in the amount of $85,471. This publication previously reported the details on this litigation.
A motion for summary judgment asks the court to decide the case—before trial—in favor of the party making the motion, in this case, the Physician who accused Mr. Vasa of cheating.
The findings for summary judgment include the claims from a Physician which rose against defendant Mukund Vasa exerting control for his own benefit over funds entrusted to him by the plaintiff Physician for investment purposes. Despite the agreement between the parties, the stock and additional funds were not remitted from the joint investment account by Vasa to the Plaintiff Physician investor. The findings also show that Vasa allocated losses from his own personal investment account that he incurred prior to the partnership account. Investor Physician learned that Mukund Vasa sold stocks without prior authorization and transferred money from the joint account to Vasa’s and Vasa’s wife’s personal brokerage account.
Along with the Physician’s Motion for Summary Judgement granted by the District Court Judge, the judge has further ordered, adjudged and decreed that the Plaintiff Physician is entitled to recover of and from Vasa the amount of over $85,000.
From the beginning, this was an odd case of a trust, friendship, and community connection, where the local Indian wealthy Physician (name withheld) lost a significant amount of money to a fellow Indian retiree Mr. Mukund Vasa. Mukund and his wife Vimi Vasa are active members of the local Las Vegas Indian community. The retired Civil Engineer Mukund Vasa was accused by a prominent local Indian Physician of fraud, misrepresentation, co-mingling of investment funds, theft, and embezzlement. A local business attorney was hired by the Physician to file a lawsuit demanding the return of original investment money. Out of court settlement and other options recommended by the Physician was of no avail.