VANCOUVER, BC / ACCESS Newswire / May 8, 2025 / Brian Lovig, a prominent British Columbia-based auctioneer, gun-rights advocate, and right-wing political commentator, along with his children, is facing a lawsuit from a group of international investors who claim the family conspired to defraud them.
The lawsuit, filed in Nevada by Vancouver-based investor Altaf Nazerali (www.alynazerali.com) and a group of international plaintiffs, targets the Lovig-controlled Bondock LLC, a company registered in the U.S. and its Canadian affiliate, Bondock Ltd.
The plaintiffs allege that Lovig and his children-Kerri Ann Hulet, Christy Lovig, Landon Lovig, Lane Lovig, and Reagan Lovig-engaged in fraud, breach of contract, and deceptive financial practices.
At the heart of the lawsuit is a 2022 agreement in which the plaintiffs transferred 31.1 million shares of Arvana Inc. shares to Bondock LLC in exchange for a US$2 million payment due by May 9, 2024.
Prior to the agreement, Arvana, a publicly listed company (AVNI), was controlled by Nazerali and his partners.
The lawsuit claims that Lovig and his affiliated entities never made the payment, even after the stock's value ballooned following a 3-to-1 forward split in April 2023, increasing the number of shares transferred to 93.3 million.
At Arvana's $0.40 per share market value on the date the suit was filed, this raised the total worth to over $37.3 million, for Lovig, his family and associates while the promised payment to Nazerali and his partners remained unresolved.
When the plaintiffs attempted to inspect Bondock's financial records, an action permitted under the agreement, they were allegedly met with evasive responses, according to the filing.
In one conversation, Lovig reportedly admitted that Bondock LLC was "just a shell company," despite its public claims of operating a cryptocurrency exchange and investing in precious metals, the court documents allege.
Additionally, the complaint highlights a series of press releases issued by Arvana Inc., announcing the acquisition of PintoCity Inc. - another Lovig-controlled company-as well as new AI-driven real estate ventures.
PintoCity's business model is to acquire and manage vacant shopping centers and big box stores throughout the United States, according to the company's website. The properties are to be repurposed as entertainment and themed centers with a revenue generating strategy in place.
The plaintiffs in the Nevada lawsuit argue that these moves were orchestrated to inflate Arvana's stock value while delaying payment obligations, agreed upon in 2022.
Nazerali and his partners have asked the court to impose a constructive trust on the transferred shares, alleging a fraudulent transfer designed to shield assets from collection They are also pursuing punitive damages for fraudulent misrepresentation and seeking an injunction to prevent further asset transfers.
The lawsuit claims that Lovig's children knowingly accepted fraudulently transferred assets and should be held liable for aiding and abetting the scheme.
"The entire operation was designed to enrich Lovig and his associates while keeping creditors at bay," the plaintiffs assert.
"This case is about holding accountable those who deceive investors under the guise of legitimate business dealings, states the lawsuit filed by the Las Vegas-based Jimmerson law firm.
None of the allegations against the defendants have been proven in court.
Brian Lovig and his family developed and operate the Lovig Auction Group, which according to its website claims to have "built our reputation from the sale of equipment, farms, livestock, and more than $1 billion of real estate by public auction."
He is also an avid gun rights advocate and host of rightedition.com podcast, which is referred to as Lovig's "powerful sounding board for preaching the strengths and virtues of capitalism while exploiting the nonsensical values of the left."
Lovig's deceptive practices, alleged in this lawsuit mirrors another case where the well-known Capozzi brothers of Kelowna, B.C. sued him in the B.C. Supreme Court and won a judgment totalling over $1 million.
In a December 2001 judgement, Madam Justice Stromberg-Stein ruled " I reject the evidence of Brian Lovig where his evidence is inconsistent. Not only was his evidence unreliable, it was inconsistent with the evidence of the other witnesses in material respects and was internally inconsistent as well. I found him to be evasive and less than candid for the most part. His memory was poor and selective, and he often appeared to make things up as he went along."
COURT FILING :
CASE NO: A-25-913366-C
Eight Judicial District Court
Clark County, Nevada
MEDIA INQUIRIES:
Fabian@fabiandawson.com
SOURCE: Altaf Nazerali
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/business-and-professional-services/investor-alert-prominent-b.c.-auctioneer-gun-rights-advocate-and-1024139
