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Plaintiff,








HALAWI INVESTMENT TRUST, SAL,







v.


BOSTON MERCHANT FINANCIAL, LLC,


and



BOSTON MERCHANT FINANCIAL, LTD.,









Defendants






























Case No. 2013-cv-11631















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IN THE UNITED STATES DISTRICT COURT FOR MASSACHUSETTS

Boston Division



FIRST AMENDED COMPLAINT AND DEMAND FOR TRIAL BY JURY

COMES NOW the Plaintiff, Halawi Investment Trust, SAL (“Halawi”), by counsel, and




for its Complaint against the Defendants, Boston Merchant Financial, LLC and Boston Merchant

Financial, LTD., states as follows:

1. Plaintiff is a Lebanese investment trust.

2. Defendant Boston Merchant Financial, LLC, (the “LLC”) is a Delaware limited

liability company doing business in Boston, Massachusetts.

3. Defendant Boston Merchant Financial, LTD., (“BMFN”) is a company with offices at

9 Wimpole Street, London, England WIG 9SR.

4. This court has jurisdiction by virtue of diversity of citizenship and the amount in

controversy exceeds $75,000.

5. The Plaintiff opened an investment account and deposited certain of its funds with a

FACTS



company called “Boston Merchant Financial.” Upon information and belief, the

Defendants operate and trade as Boston Merchant Financial at 10 Milk Street, Suite

706, in Boston.

6. Plaintiff would access its investment account online to view statements at bmfn.com.

That website belongs to Defendant BMFN. Plaintiff’s representatives would also

communicate with the Defendants by email and phone to Defendants’ representatives,

including a certain Pavel (“Paul”) Belogour.

7. The current balance of the account is approximately $1,175,568.88.

8. Earlier in 2013, the Plaintiff asked BMFN to close out its account.

9. To this end, BMFN directed the Plaintiff to contact one of its officers, Mr. Belogour

at the LLC in Boston by phone, using a Boston phone number.

10. On or about May 13, 2013, when Plaintiff’s representative contacted Mr. Belogour

through calling him in Boston and Mr. Belogour advised Plaintiff’s representatives

that Plaintiff would never receive its funds because of certain “issues” and certain

deficiencies in Plaintiff’s request.

11. Mr. Belogour instructed Halawi to direct any demand for the return of its funds to its

Boston offices.

12. On May 24, 2013, Plaintiff sent a written demand to Defendants, care of Mr.

Belogour at the LLC’s Boston address, pursuant to BMFN’s prior instructions, which

Mr. Belogour previously referred, demanding a return of its funds.

13. On June 11, Mr. Belogour received a demand for the return of Plaintiff’s funds.

Despite demand, the Defendant has refused to return the Plaintiff’s funds, totaling

$1,175,568.88.

COUNT I – BREACH OF CONTRACT



14. Plaintiff incorporates Paragraphs 1-13 above as though fully set forth herein.

15. Plaintiff had an oral agreement with the Defendants whereby the Plaintiff invested

funds with the Defendants, and the Defendants were to return Plaintiff’s funds upon

demand.

16. Defendants have breached the agreement by not returning Plaintiff’s money.

17. Plaintiff has been damaged in the amount of $1,175,568.88.

WHEREFORE, Plaintiff asks for judgment in the amount of $1,175,568.88, pre and post

judgment interest, and costs.

COUNT II – UNJUST ENRICHMENT (ALTERNATIVE COUNT)

18. Plaintiff incorporates Paragraphs 1-13 above as though fully set forth herein.

19. Plaintiff conferred a benefit upon the Defendants by investing certain of its funds

with them.

20. Defendants were aware of the benefit conferred, and knew that the Plaintiff would

want its funds back upon demand.

21. Defendants have refused to return Plaintiff’s funds, despite demand.

22. Plaintiff has been damaged in the amount of $1,175,568.88, the amount in its account

with the Defendants.





COUNT III – CONVERSION

23. Plaintiff incorporates Paragraphs 1-23 above as though fully set forth herein.

24. The Plaintiff opened an investment account and deposited certain of its funds with a

company called “Boston Merchant Financial.”

25. Plaintiff would access its investment account online to view statements at bmfn.com.

That website belongs to Defendant BMFN. Plaintiff’s representatives would also

communicate with the Defendants by email and phone to Defendants’ representatives,

including a certain Pavel (“Paul”) Belogour.

26. The current balance of the account is approximately $1,175,568.88.

27. Earlier in 2013, the Plaintiff asked BMFN to close out its account and return its

funds.

28. To this end, BMFN directed the Plaintiff to contact one of its officers, Mr. Belogour

at the LLC in Boston by phone, using a Boston phone number.

29. On or about May 13, 2013, when Plaintiff’s representative contacted Mr. Belogour

through calling him in Boston and Mr. Belogour advised Plaintiff’s representatives

that Plaintiff would never receive its funds because of certain “issues” and certain

deficiencies in Plaintiff’s request.

30. Mr. Belogour instructed Halawi to direct any demand for the return of its funds to its

Boston offices.

31. On May 24, 2013, Plaintiff sent a written demand to Defendants, care of Mr.

Belogour at the LLC’s Boston address, pursuant to BMFN’s prior instructions, which

Mr. Belogour previously referred, demanding a return of its funds.

32. On June 11, Mr. Belogour received a demand for the return of Plaintiff’s funds.

33. Despite demand, the Defendant has refused to return the Plaintiff’s funds, totaling

$1,175,568.88.

34. The Defendants have exercised dominion and control over the funds of the Plaintiff.

35. After demand for the return of its funds, the Defendants have failed and refused to

return the funds.

36. The Defendants have knowingly and intentionally converted the Plaintiff’s funds.

37. Plaintiff incorporates Paragraphs 1-37 above as though fully set forth herein.

COUNT IV – M.G.L. c. 93A



38. The Plaintiff and Defendants are engaged in trade or commerce as trade or commerce

is defined under M.G.L. c. 93a.

39. The Plaintiff opened an investment account and deposited certain of its funds with a

company called “Boston Merchant Financial.”

40. Plaintiff would access its investment account online to view statements at bmfn.com.

That website belongs to Defendant BMFN. Plaintiff’s representatives would also

communicate with the Defendants by email and phone to Defendants’ representatives,

including a certain Pavel (“Paul”) Belogour.

41. The current balance of the account is approximately $1,175,568.88.

42. Earlier in 2013, the Plaintiff asked BMFN to close out its account and return its

funds.

43. To this end, BMFN directed the Plaintiff to contact one of its officers, Mr. Belogour

at the LLC in Boston by phone, using a Boston phone number.

44. On or about May 13, 2013, when Plaintiff’s representative contacted Mr. Belogour

through calling him in Boston and Mr. Belogour advised Plaintiff’s representatives

that Plaintiff would never receive its funds because of certain “issues” and certain

deficiencies in Plaintiff’s request.

45. Mr. Belogour instructed Halawi to direct any demand for the return of its funds to its

Boston offices.

46. On May 24, 2013, Plaintiff sent a written demand to Defendants, care of Mr.

Belogour at the LLC’s Boston address, pursuant to BMFN’s prior instructions, which

Mr. Belogour previously referred, demanding a return of its funds.

47. On June 11, Mr. Belogour received a demand for the return of Plaintiff’s funds.

48. Despite demand, the Defendant has refused to return the Plaintiff’s funds, totaling

$1,175,568.88.

49. The Defendants have exercised dominion and control over the funds of the Plaintiff.

50. After demand for the return of its funds, the Defendants have failed and refused to

return the funds.

51. The Defendants have knowingly and intentionally converted the Plaintiff’s funds.

52. The Defendants have knowingly and intentionally acted unfair and deceptive in

violation of M.G.L. c. 93A by converting the funds of the Plaintiff and refusing to

return them after demand.

WHEREFORE, Plaintiff asks for

a. judgment in the amount of $1,175,568.88,
b. pre and post judgment interest,
c. multiple damages,
d. attorney fees and
e. costs.





Respectfully submitted,
HALAWI INVESTMENT TRUST, SAL
By its attorneys:

/s/ Carlo Cellai, Esq.__________________
Carlo Cellai, Esq. BBO # 558651
Cellai Law Offices, P.C.
280 Summer Street, Suite M300
Boston, Massachusetts 02210
Telephone (617) 367-2199
Facsimile (617) 367-2075
E mail: [email protected]











Dated: August 29, 2013



CERTIFICATE OF SERVICE



I hereby certify that on this 29th day of August, 2013, a true copy of the foregoing


Plaintiff’s Motion to Vacate Default and First Amended Complaint and Demand for Trial by
Jury was electronically served on:

Mark Bross, Esq.
Hinkley Allen
28 State Street
Boston, Massachusetts 02109
[email protected]


/s/ Carlo Cellai, Esq._____________________
Carlo Cellai, Esq.




Dated: August 29, 2013