Daryl Heller, owner of Paramount Management Group, recently appeared in court as part of an ongoing dispute with investors who are looking for $138 million. He was initially charged with this judgement in November after he missed a payments deadline to almost 2,700 investors.
The investors sued earlier this year over claims that Paramount had failed to pay more than $65 million in ATM fees.
The court appearance came after FBI agents raided his offices in Lancaster, Pennsylvania, according to a report by Lancaster Online.
During the hearing, Keller invoked the Fifth Amendment and refused to answer any questions, according to Lancaster Online. However, the court did hear testimony with Leigh Danca, VP of information systems at Paramount, who said that of the 25,000 ATMs on the network, Paramount only owns around 10,000 machines.
In addition, Brench Bauman, owner of Republic Amusements, said that when reviewing a list of 28,000 serial numbers that come from Paramount, he said almost 18,000 of them were not for ATMs.
Attorneys had called for this hearing after Paramount failed to meet a deadline to turn over the funds.
The judge imposed a fine of $50,000 daily for each day Paramount doesn’t turn over the serial numbers and ATMs, with that fine jumping to $100,000 a day by Dec. 14.
