Introduction: This case arose from two business ventures between Christos Georgas and Terrence Ball: the Lending Venture and the Cash Transfer Venture. Georgas sought recovery of principal and interest, while Ball contested the claims, citing various defenses including illegality. Georgas made several loans to Ball with high-interest rates, and also deposited funds into Ball’s controlled accounts, expecting repayment minus a fee. Ball stopped repayments in 2018, leading to the lawsuit.

Legal Arguments/Issues:

• Breach of Contract and Unjust Enrichment: Georgas claimed Ball owed $267,700 in total, comprising loans and unreturned deposits.
• Illegality of Agreements: Ball argued that the Cash Transfer Venture was for illegal purposes (tax evasion/money laundering) and should not be enforceable.
• Usurious Interest Rates: The promissory notes specified interest rates around 240% per year, exceeding the criminal rate of 60%.

Held:

• Cash Transfer Venture: Georgas deposited $170,500; Ball returned $45,000. The court found $122,990 (after a 2% fee) was still owed. Despite the venture's illegality, the court enforced the repayment.
• Lending Venture: The court determined $91,700 in principal was outstanding. The interest rates exceeded legal limits. Thus, Georgas could only recover the principal plus pre-judgment interest.

Costs/Damages Awarded: Terrence Ball was ordered to pay Christos Georgas $122,990 for the Cash Transfer Venture and $91,700 for the Lending Venture, with interest determined under the Court Order Interest Act. The claim against Margaret Sheila Ball was dismissed. The total award in favor of Christos Georgas was $214,690, excluding interest.