Name: Salman Azam, Managing Partner of Lakeshore Law Group LLP
FOR IMMEDIATE RELEASE
Lakeshore Law Group LLP files involuntary bankruptcy petition against Sunrise Equities Inc.
(Chicago, IL â€“ September 17, 2008) — Lakeshore Law Group LLP as lead counsel representing a majority of defrauded investors filed an involuntary bankruptcy petition against Sunrise Equities Inc., a real estate development firm in Chicago, Illinois.
Sunrise Equities had recruited hundreds of investors over the past five years, many of whom were from the South Asian Muslim community, to invest over 50 million dollars in real estate developments in Chicago. â€œMany of these investors were encouraged to put their life savings and home equity at risk, and were promised a monthly income stream,â€ said Salman Azam, Managing Partner in Lakeshore Law Group LLP. Over the past few months, it became apparent to investors that Sunrise was unable to make good on its obligations to pay back investors, many of whom stand to lose their homes and life savings in the debacle while the principals in Sunrise Equities are no where to be found and are speculated to have fled the country.
By filing this involuntary bankruptcy petition, Lakeshore Law Group LLP intends to halt any attempt by Sunrise Equities insiders to improperly transfer the companyâ€™s assets, prevent any further fraud upon the victims, and initiate an investigative process that will open up the companyâ€™s books. This is just the first step in the process. Whether the companyâ€™s assets will be sufficient to compensate the investors remains to be seen. All investors seeking further information are encouraged to contact Lakeshore Law Group at (312) 321-6531, or email@example.com.
Lakeshore Law Group LLP is a South Asian Community Law firm located in downtown Chicago with Partners; Salman Azam, Rozina Gilani and Nizam Arain.
For more information, contact:
Salman Azam, Managing Partner of Lakeshore Law Group LLP (773-354-3123)