Lawsuit Filed Against Gaurav Srivastava and Veecon Biotech for Alleged Fraud

Lawsuit Filed Against Gaurav Srivastava and Veecon Biotech for Alleged Fraud

On February 7, 2024, a significant legal action was initiated in the Superior Court of the State of California, Los Angeles County, targeting Gaurav Srivastava, the chairperson of Veecon Biotech, alongside other defendants, based on multiple claims for damages under California law. This lawsuit was spearheaded by Jolie Slaton through her company, Medical Innovation Partners International, after engaging in sales agreements and conducting international transactions with Srivastava, Scott Davalos, and Veecon Biotech.

The defendants are accused of fraudulent behavior, including failure to fulfill contractual obligations, intentional misrepresentation of facts, and making false claims about owning intellectual property rights to a medical device designed for disease detection through saliva testing—a claim reminiscent of the infamous Theranos scandal. Despite being appointed as the exclusive sales representative for Veecon in various regions, Slaton discovered that the defendants lacked the intellectual property rights and necessary licenses, undermining their business agreements and representations.

With five legal claims filed against them, including Breach of Contract and Fraud, the lawsuit highlights the depth of the alleged deception. Slaton’s statement sheds light on her role in facilitating connections within the medical industry for the defendants, only to realize the foundational deceit of their partnership.

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