Lawsuit Filed Against Ziyou Xu, Weiguo Xu, and RIC Alleging Breach of Contract, Fraud, Embezzlement, and RICO Violations
A civil complaint alleges RICO violations, fraud, and embezzlement by Ziyou Xu, RIC, and Weiguo Xu regarding the misappropriation of robotic 3D printing technology.Summary
Yue Zhao and affiliated entities have filed a civil complaint in the Los Angeles County Superior Court against Ziyou Xu, Weiguo Xu, Advanced Intelligent Construction Technology, Inc. (AICT), and Robotic Intelligent Construction Technology Inc. (RIC). The dispute concerns the formation, ownership, and operation of business entities involved in robotic 3D printing and construction technology. The complaint alleges that the defendants misappropriated intellectual property, customer relationships, and operational assets from AICT to RIC. It further claims that approximately $1.5 million was transferred through company-related accounts, later characterized as consulting payments. The plaintiffs assert claims including breach of contract, fraud, embezzlement, and violations of the Racketeer Influenced and Corrupt Organizations Act (RICO). The defendants have not publicly responded to the allegations. The plaintiffs seek compensatory damages, punitive damages, attorney’s fees, and other remedies.
(Source：Ein Presswire)