Case: Rodney v. John Thomas Capital Management Group LLC, Cause No. 2013-54408
Court: 189th Judicial District, District Court of Harris County, Texas
Attorneys: Jeffrey P. Campisi

The Second Amended Petition (the “Complaint”) alleges breach of fiduciary duty, aiding and abetting breach of fiduciary duty, waste, professional negligence, civil conspiracy, and breach of contract.   The Complaint alleged that Defendant George Jarkesy, Jr., (“Jarkesy”) individually, as the managing member of the Funds’ general partner Defendant John Thomas Capital Management Group LLC (“JTCM”), and JTCM, the general partner of the Funds, owed fiduciary duties to the limited partners of the Funds.  

The Complaint alleged that Jarkesy and JTCM intentionally, willfully or with at least gross negligence, elevated the interests of Defendants John Thomas Financial, Inc. (“JTF”), Anastasios “Tommy” Belesis (“Belesis”) and ATB Holding LLC (“ATB”) over those of the Funds by steering millions of dollars in bloated fees to the broker-dealer, violating their duty of loyalty owed to the Funds’ limited partners.  The Complaint further alleges that Defendants JTF, ATB Holding, Belesis, Juan Padilla (“Padilla”) and Group MFR (“MFR”) aided and abetted such breaches of fiduciary duty, that Jarkesy and JTCM breached their agreement with the limited partners by ignoring the investments guidelines that governed the Funds, that Defendant MFR breached its agreements with the Funds, and that Defendants MFR and Padilla committed professional negligence in connection with their audits of certain of the Funds’ financial statements