Suit alleges investment with LV firm went bad

Tuesday, Aug. 29, 2000 | 11:13 a.m.

Red Star Investments Inc. is suing to rescind an agreement with a Las Vegas trading company, alleging it misused more than $2.15 million in investment funds meant for developing businesses in China.

In a Clark County District Court lawsuit, Red Star sued GMS Holdings International Marketing & Trading LLC and Michael Singh, alleging they failed to provide detailed financial reports and to use the funds to develop businesses in several industries.

The industries include cellular phones, Internet, used aircraft sales and video display screens produced by Singh's firm Display Ad Nevada LLC, the lawsuit said.

The defendants could not be reached.

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