Crain's Cleveland Business, January 8th, 2001
Seven clients of Cashel Management Inc. have filed lawsuits accusing the Cleveland investment advisory firm of bilking them of at least $23 million in the last seven years.
The clients allege in three separate lawsuits that Cashel transferred the money from their accounts to bolster RX Remedy Inc., a health care publishing and Internet company in Westport, Conn. One of the lawsuits was filed Dec. 12 in U.S. District Court in Cleveland, and two were filed in Cuyahoga County Court of Common Pleas on Dec. 12 and Jan. 2.
Michael Ungar, a partner with Ulmer & Berne LLP in Cleveland, which filed...
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