JAMS Neutral Defends Biography, Admits Fund Made No Money
Retired appellate justice Sheila Sonenshine says she told the truth about her private equity fund, even if it added up to "zeroes."
May 04, 2017 at 11:28 PM
6 minute read
Sheela Sonenshine was one of California's first certified family law specialists, a pioneering trial judge and a founding justice of the California Court of Appeal's Orange County division.
On Thursday she had the less appetizing role of witness in a San Diego fraud trial brought against her and JAMS Inc. over her online biography. Over the course of more than five hours, Sonenshine testified about the inspiration behind her legal career while rebutting accusations venture capitalist Kevin Kinsella has made about her business ventures. Her self-deprecating humor drew chuckles from jurors more than once but she also flashed temper at one point, telling her own lawyer she didn't like the way she was being questioned.
Plaintiff attorney Bryan Vess, meanwhile, forced Sonenshine to acknowledge that an investment fund she started and that is touted on JAMS' website fell far short of goals set in its own business plan. Once envisioned as a $100 million private equity fund supported by pension and university investments, Sonenshine acknowledged the fund raised no outside money, never leased outside office space, didn't establish a board of directors or put forth an offering statement.
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