The plaintiff, Fondo de Inversión Stella, is an investment fund where the Institute of the Brothers of the Christian Schools (the Brothers), a religious congregation, is a participant.
Since 1999, Lizardo Vargas, one of the defendants, convinced the Brothers that the best way to invest their assets was through a fund he managed.
Vargas’ investments included the purchase of 15% SUR Corp (SUR) stock, the entity that controls the Spanish TV network SUR. The estimated value of the stock was around $5,250,000.
After the Plaintiff’s request to SUR for an accounting of its investment was declined, Ayala filed a lawsuit in Dade County Circuit Court, for breach of fiduciary duties, accounting, and unjust enrichment among others.
A copy of the complaint filed can be found here: Complaint
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