Once again Mirando Lauto a.k.a. Nando Lauto, failed to keep agreements with business partners. Nando Lauto has a previous history of not keeping agreements with partners. This time Lauto signed contract “Continuing Personal Guaranty.” By signing this document, Defendant Lauto personally guarantied payment of amount of $4, 874, 000. Mirando Lauto a.k.a. Nando Lauto failure to make
payments defaulted. The breach of contract counts alleged in the FAC seek recovery of $3, 952, 100.77 – the amount owed by Mirando a.k.a. Nando Lauto exclusive of interest attorney’s fees and costs, that is due and unpaid on the Lauto debts. Lautos personal home property at 407 11th Street, Santa
Monica, California 94042 has an estimated value of $2 million but that the property is currently encumbered by two mortgages, totaling approximately $500, 000.00. Mravack Decl., Thus, Plaintiff believes that there is approximately $1.5 million dollars in equity on the property, part or all of which may be attached by Plaintiff or used by Plaintiff to satisfy any judgment in its favor. Mirando Lauto, a.k.a. Nando Lauto, M3T Corporation, Bene West, Inc., Comben Corp., Naben Corp., Passben Corp., Veben Corp., and Walben Corp., in the amount of $5, 038, 451.82; Mirando Lauto a.k.a. Nando Lauto was finally forced to keep an agreement with business partners. Karma has been served.