An elderly New York businessman and his company have filed a federal lawsuit accusing a financial consultant of orchestrating a $300,000 fraud under the guise of debt relief services.
The complaint, filed Aug. 27, 2025, in the U.S. District Court for the Eastern District of New York, alleges that Yitzchok Gantz and his firm, HIG Associates LLC, took the funds without fulfilling contractual obligations.
Binder Science LLC and its founder, Thomas Wentzler, claim Gantz violated the Texas Deceptive Trade Practices Act and the Texas Theft Liability Act, and engaged in fraudulent inducement. The lawsuit centers on an alleged financial scam targeting Wentzler as he struggled to keep his company out of bankruptcy.
According to the complaint, Gantz approached Wentzler in mid-2023, offering debt consolidation services through a consulting agreement signed Aug. 2, 2023. At the time, Binder Science reportedly owed tens of millions of dollars to various MCA lenders.
The plaintiffs allege Gantz never intended to provide the promised services and instead took $300,000 under false pretenses. Despite repeated demands and legal notices sent by two attorneys over two years, Gantz allegedly failed to return the funds or deliver on the agreement.
The complaint states that Binder Science filed for Chapter 11 bankruptcy on July 6, 2024, burdened by approximately $32 million in debt. Plaintiffs argue the bankruptcy was exacerbated by Gantz’s conduct.
In their prayer for relief, Wentzler and Binder Science seek at least $300,000 in direct and consequential damages, as well as treble damages under Texas law, citing willful and outrageous conduct. They are also seeking punitive damages, attorneys’ fees, and court costs.
The case is assigned Civ. A. No. 1:25-cv-04783.
Source: 125cv04783_Binder_Science_LLC_v_HIG_Associates_LLC_Complaint_Eastern_District_New_York.pdf