Gaurav Srivastava sued for his actions in a Theranos-like fraud | News Direct

Gaurav Srivastava sued for his actions in a Theranos-like fraud

News release by PlatoData

facebook icon linkedin icon twitter icon pinterest icon email icon Los Angeles, California | February 13, 2024 01:59 PM Eastern Standard Time


Los Angeles, California, February 13, 2024 - (PlatoData via 500NewsWire) -- A complaint for multiple actions for damages pursuant to California law was filed with the Superior Court of the State of California, Los Angeles County, on 7 February 2024, against Defendant Gaurav Srivastava, Chairperson of another Defendant, an LLC company called ‘Veecon Biotech.’

The complaint has been filed by Jolie Slaton, who, through her entity ‘Medical Innovation Partners International’, entered into sales contracts, interacted, and transacted with Gaurav Srivastava, Scott Davalos and Veecon Biotech in both the USA and internationally.

The Defendants are being sued for fraud, amongst other causes of action. The Defendants are alleged to have failed to perform, never intended to perform, and/or ultimately made significant misrepresentations to the Plaintiff, which she relied upon in entering contracts with the Defendants. More specifically, Gaurav Srivastava claimed ownership of the intellectual property rights of a world-class medical device that would allow the detection of various diseases, such as cancer, with saliva testing, akin to the infamous ‘Elizabeth Holmes’ Theranos testing device.

The Plaintiff had been mandated by the Defendants as the exclusive sales representative for Veecon, selling medical testing device products in the El Salvador, Costa Rica, Guatemala and Mexico regions.

Contrary to their fraudulent misrepresentations, the Defendants did not hold the intellectual property rights to the medical device, and failed to hold any license to sell and distribute the technology. Moreover, the Defendants had no partnership or business relationship with the developer of these medical technologies, as they had falsely represented.

The five causes of action detailed within the Complaint against the Defendants consist of Breach of Contract, Intentional Misrepresentation, Negligent Misrepresentation, Promise Without Intent to Perform, and Fraud.

Jolie Slaton comments: “I provided Gaurav Srivastava and Scott Davalos with life-long and high-profile contacts in the medical sector. I helped them to meet the right decision makers within prospective client organizations with contracts in the pipeline, but I had no idea that it was a fraud from the very start.”

“I have suffered significant damages to me personally and to my business as a result of Gaurav Srivastava and Scott Davalos’ actions. I lost millions of dollars worth of income during those years, suffered extreme reputation damage, not to mention the emotional turmoil this matter has caused. I now hope that justice will be served, and that no one else becomes a victim of the Defendants’ unscrupulous actions.”

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