Our firm is providing an update on the recent court ruling in the case of S.J. Stile Associates, Ltd. v. Ricardo McGregor Sr. (Index No. 618818/2024), pending before the Supreme Court of the State of New York, Nassau County, Commercial Division. The Court has issued a Decision and Order on default against defendant Ricardo McGregor Sr., following his failure to respond or appear in the action. The lawsuit, filed by S.J. Stile Associates, Ltd., alleges that McGregor, a former employee, misappropriated millions of dollars from the company over several years. According to the complaint, McGregor covertly diverted company funds for personal use through:
- Unauthorized ACH transfers to pay down personal credit card debt
- Forgery and check fraud to deposit company checks into his personal accounts
- Wire transfers to his personal and investment accounts
- Diversion of company cash for personal expenditures
These actions, as alleged, were carried out while McGregor was employed in a trusted financial role at the company. Following McGregor’s failure to respond to the lawsuit, the Court granted a default decision in favor of S.J. Stile Associates, Ltd. Under New York law, a default ruling is issued when a defendant does not appear or submit a defense within the required timeframe, allowing the Court to accept the plaintiff’s allegations as unchallenged. The decision recognizes that McGregor did not contest the claims brought against him, thereby permitting the case to move forward toward judgment and enforcement. If your business is facing financial misconduct or fraud-related disputes, Bashian & Papantoniou P.C. is here to assist. Our firm has extensive experience in commercial litigation, fraud recovery, and corporate legal matters.
For more information about this case or to discuss your legal needs, please contact us:
Bashian & Papantoniou P.C.
1225 Franklin Avenue, Suite 325, Garden City, NY 11530
(516) 279-1554