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LOUROS v. KREICAS

No. 03 Civ. 1514(LAK).

367 F.Supp.2d 572 (2005)

Steven LOUROS, Plaintiff, v. Leonard KREICAS, Defendant.

United States District Court, S.D. New York.

April 25, 2005.

Attorney(s) appearing for the Case

Bruce A. Schoenberg, Schrader & Schoenberg, LLP, for Plaintiff.

Neal Brickman, Nicole Van Gendt, Law Offices of Neal Brickman, New York City, for Defendant.

MEMORANDUM OPINION

KAPLAN, District Judge.

This is a cautionary tale about do-it-yourself investing. Leonard Kreicas and his attorney, Steven Louros, were amateur investors. Louros gave Kreicas authority to trade options in brokerage accounts containing what Louros says were his life's savings and promised Kreicas a share of the profits. In July 2002, Louros realized losses of hundreds of thousands of dollars. Louros then sued Kreicas for securities fraud...

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