#7 - $4,258,237
Banc of America Leasing & Capital LLC v. ePlus Group Inc.
Type of Case: Breach of contract
Court: Fairfax County Circuit Court
Attorneys: Melissa M. Glassman, John D. Wilburn and Kevin F.X. De Turris
Summary: Banc of America Leasing & Capital LLC entered into an agreement with ePlus Group Inc. to provide financing for a computer equipment lease between ePlus and a third party. However, the third party was engaged in a scheme to defraud lending institutions by using fake computer equipment that consisted of little more than empty cases with fans and blinking lights.
BoA contended that it relied on representations by ePlus about the existence and value of the equipment. The Supreme Court of Virginia rejected ePlus’ petition for appeal.
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