DALLAS–(BUSINESS WIRE)–A Dallas County district court judge has awarded a Texas-based surgical implant provider $2.4 million in a financial fraud case involving a North Texas physician accused of stealing the company’s assets for his own enrichment.
Beginning in 2020, orthopedic spine surgeon Dr. Venkat Sethuraman utilized biologics and hardware from USA Surgical and USA ConsultoBiz. According to USA ConsultoBiz attorney Alex Campbell, although Dr. Sethuraman did not own any interest in or receive any payments from the companies, he provided documentation to the companies’ bank in 2021 portraying himself as president and owner of USA ConsultoBiz.
Relying on that documentation, he was made the sole signatory of the company’s bank account and later added co-defendant Christy Jenkins to the account.
“Once they had this unfettered access, there were no controls preventing them from withdrawing millions of dollars used to pay for home and medical practice improvements, as well as cash that benefited his children and himself,” said Mr. Campbell of Campbell Law PLLC. “It was a brazen scheme that completely drained the companies of their assets.”
In addition to the cash assets, Dr. Sethuraman took control of USA ConsultoBiz’s inventory of carts, trays, biologics and hardware, valued in the millions. Under the judge’s ruling, Dr. Sethuraman retained possession of certain surgical trays of spine implants.
During the 162nd District Court bench trial, parties agreed to an oral motion for judgment, with written closing arguments submitted to Judge Kim Bailey Phipps. Her final ruling was issued on Sept. 8.
“This was a complex case with unusual and challenging circumstances, such as my client’s availability due to the hurdles in securing legal travel permissions, but we are very grateful to the judge for her dedication to ensuring justice would prevail,” said Mr. Campbell.
The case is USA Surgical Inc. and USA Consultobiz, Inc. v. Venkat Sethuraman and Christy Jenkins, case number DC-22-11966, in the 162nd District Court of Dallas County, Texas.
About Campbell Law PLLC
Dallas-based Campbell Law offers expertise in commercial litigation, probate law, and outside general counsel services to provide personalized, niche services to clients in an efficient and effective manner. For more information, visit https://campbellfirm.law.
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