MoneyGram International, Inc. v. Demetri Theofanopoulos

CourtCourt of Appeals of Texas
DecidedJuly 6, 2018
Docket05-17-00798-CV
StatusPublished

This text of MoneyGram International, Inc. v. Demetri Theofanopoulos (MoneyGram International, Inc. v. Demetri Theofanopoulos) is published on Counsel Stack Legal Research, covering Court of Appeals of Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
MoneyGram International, Inc. v. Demetri Theofanopoulos, (Tex. Ct. App. 2018).

Opinion

AFFIRM; and Opinion Filed July 6, 2018.

In The Court of Appeals Fifth District of Texas at Dallas No. 05-17-00798-CV

MONEYGRAM INTERNATIONAL, INC., Appellant

V.

DEMETRI THEOFANOPOULOS, Appellee

On Appeal from the 116th Judicial District Court Dallas County, Texas Trial Court Cause No. DC-16-13957

MEMORANDUM OPINION Before Justices Lang-Miers1, Evans, and Schenck Opinion by Justice Lang-Miers Appellant MoneyGram International, Inc. appeals from the trial court’s order granting

appellee Demetri Theofanopoulos’s special appearance. We affirm.

BACKGROUND

Appellant MoneyGram is a Delaware corporation with its principal place of business and

headquarters in Dallas Texas. MoneyGram provides international money transfer services.

Appellee Theofanopoulos is a citizen and resident of Greece. He is the managing director of

Moneylink Societe Anonyme Intermediation and Provision of Money Transfer Services d/b/a

1 Justice Elizabeth Lang-Miers was not present for oral argument but participated in the disposition of this appeal. Justice Molly Francis was present for oral argument but did not participate in the disposition of this appeal. Moneylink S.A., which—through agreement with MoneyGram—provided MoneyGram’s money

transfer services in Greece.

In 2006, MoneyGram and Moneylink entered into an International Money Transfer

Agreement, which Theofanopoulos signed as managing director for Moneylink.2 As described by

MoneyGram vice president Eric Dutcher in a declaration, “Moneylink was appointed

MoneyGram’s agent in Greece to perform electronic money transfer services, principally through

a network of sub-representatives located in Greece.” Under the Transfer Agreement, “Moneylink

was to deposit trust funds into a bank account to be debited and credited by MoneyGram for the

settlement of mutual payment obligations” and these “payments were to occur twice a week.”

Dutcher stated that Theofanopoulos “had full authority and control over Moneylink’s

operations[.]” The Transfer Agreement stated that it was governed by and was to be enforced in

accordance with the law of England and Wales.

According to Dutcher, in 2012, Moneylink “consistently fell behind on payments” and, by

December 5, 2012, Moneylink had accrued a debt of €889,656.81. Representatives of

MoneyGram communicated by e-mail and telephone with Theofanopoulos about this debt.

Theofanopoulos spoke with Larry Angelilli of MoneyGram by phone about the debt and bringing

Moneylink’s “accounts current[.]” Dutcher stated that Theofanopoulos acknowledged the debt

and said that he could only pay MoneyGram €89,656.81, and that—“[a]fter additional

communications between MoneyGram representatives in Texas and Theofanopoulos”—

MoneyGram and Theofanopoulos, on behalf of Moneylink, entered into a Payment Plan

Agreement. The Payment Plan Agreement provided for the payment of the remaining €800,000

in four installments beginning January 15, 2013 and ending April 15, 2013. Dutcher stated that

2 A 2013 e-mail from Theofanopoulos indicates that MoneyGram and Moneylink had a business relationship beginning in 2000.

–2– “[a]t no time during these communications with MoneyGram representatives in Texas did

Theofanopoulos state that he had taken funds from the trust account for his own personal benefit.”

Dutcher declared that, after signing the Payment Plan Agreement, €89,656.81 “was

immediately paid” and the first installment of €200,000 was paid “shortly thereafter[,]” but that

the remaining three installments totaling €600,000 were never paid, despite “Theofanopoulos

repeatedly representing to MoneyGram—through phone conversations with individuals in Texas

and e-mails directed to individuals in Texas—that the installments would be paid[.]”

Dutcher stated that MoneyGram’s consultant, Deloitte Tax LLP, later informed

MoneyGram that “Theofanopoulos had loaned himself €860,000 (interest free) from Moneylink’s

accounts.”3 According to Dutcher, in the several months prior to when Deloitte “uncovered the

fraud,” Theofanopoulos made oral and written representations to MoneyGram representatives in

Texas that the money would be paid back and that the money was “being properly maintained in

the trust accounts for the benefit of MoneyGram.” Dutcher stated that “MoneyGram continued to

attempt to find a solution with Theofanopoulos rather than terminate the relationship” and,

between February and April 2013, “MoneyGram representatives from Texas began negotiating” a

Dominion of Funds (DOF) Agreement with Theofanopoulos. Theofanopoulos and MoneyGram

representatives in Texas negotiated by telephone and e-mail and, according to Dutcher, he sent

3 On February 1, 2013, Deloitte reported the “outflow of €860K on 06/06/2012” to Theofanopoulos. In a February 15, 2013 Interim Update Communication concerning Project Greece to MoneyGram, Deloitte stated the following “Observations”:  Based on the Cash in Hand ledger for the period 01.01.2012 to 31.12.2012, there is an outflow of €860K on 06.06.2012 which was located as an accounting entry by crediting the Cash in Hand account and debiting the Sundry Debtors account and more specifically the owner Mr[.] Theofanopoulos. The description of the outflow based on the cash movement is ‘withdrawal from CEO Theofanopoulos Dimitrios as an ‘interest free loan’ which is to be repaid in 48 installments starting from 1/9/2013.”

 We were not provided with further explanations in relation to the above transaction. According to Mr. Theofanopoulos, the matter should be discussed directly between Money[G]ram and himself.

The report then stated “Implications”:  Based on the information available, we cannot assess the recoverability of this ‘interest free loan’ to Mr. Theofanopoulos by Moneylink. According to article 23a of the Law 2190/1920, such loans to the Management of a Societe Anonyme (such as Moneylink) are not allowed. The tax consequences of such a loan should also be analyzed.

–3– drafts of and revisions to the proposed DOF Agreement to MoneyGram representatives in Texas.

Dutcher stated that the DOF Agreement “was a means to ensure that further trust funds would not

be misappropriated by Theofanopoulos and to safeguard against future debt and credit risk.”4 The

DOF Agreement recognized that (1) “over three million Euro” was due by Moneylink to

MoneyGram from Moneylink’s “failure to perform its obligations arising from the” International

Money Transfer Agreement and (2) the purpose of the agreement was to limit MoneyGram’s

“further credit risk” and “restrict the exposure of the Money[G]ram Trust Funds[.]” The agreement

provided that it was governed by and shall be construed in accordance with the laws of Greece.

Ultimately, MoneyGram terminated its “business relationship with Money[l]ink and

Theofanopoulos.”

MoneyGram sued Theofanopoulos alleging claims of fraud, fraud by nondisclosure or

concealment, conversion, money had and received, and unjust enrichment.5 Theofanopoulos filed

a special appearance or, in the alternative, a motion to dismiss the suit for forum non conveniens.

He argued that MoneyGram “has not and cannot allege sufficient contacts, or other conduct

with Texas to warrant the exercise of personal jurisdiction.”6 He argued that he has not had

contact with the state of Texas and whether he committed purposeful acts against MoneyGram is

not the test under Texas law, and that the correct test is whether a defendant committed such acts

in Texas.

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