Former IWM employees pushing firm to file bankruptcy
Former employees of Integrated Wealth Management, the Palm Desert financial firm formerly headed up by late philanthropist Jim Casey, are pushing the company to file for bankruptcy.
I-Team: Local businessman was facing federal lawsuit before death
The three former employees filed a petition in a Riverside federal court in July.
According to court documents, the former employees allege the firm owes $800,000 in wages and commissions.
Read: D.A.P. hires team to audit donations made by Jim Casey
This also comes after a pair of lawsuits alleging the company of fraud and mismanagement of funds, and damages of more than $10 million.
Read: I-Team Investigation looks into 2nd lawsuit filed against Jim Casey
Authorities found Casey dead at his Palm Springs home in May, and believe he committed suicide.
A hearing regarding the bankruptcy petition has been scheduled for August 16th.
Stay with KESQ and CBS Local 2 for any updates.
