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Receiver seeks $6.2 million from Feroce’s former lawyer

June 12, 2018

PROVIDENCE, R.I. (AP) — The receiver handling the failed watch company of a Rhode Island gubernatorial candidate is seeking over $6.2 million from the businessman’s former lawyer.

The Providence Journal reports receiver Richard Gemma accused Michael Sweeney of violating the state’s RICO law in a complaint filed last month. Gemma claims Sweeney charged excessive interest on a 2016 loan that kept Republican candidate Giovanni Feroce’s company, Benrus, afloat.

Sweeny later formed a new company called Benrus Holdings LLC and bought the trademark without Feroce.

Feroce said in an email to the paper that he supported the receiver’s complaint.

A spokeswoman for Sweeney said the claims were “unsupported” and that her client’s funding helped save the company.

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Information from: The Providence Journal, http://www.providencejournal.com

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