This works if there are assets to be seized, or if you are independently wealthy enough to sustain a suit despite a lack of assets.

Lawsuits are incredibly expensive. Figure $10k before going to trial, and $50k for a relatively simple case. Few or no lawyers will take such a case on contingency (plaintiff is not sufficiently flush).

I'm not saying don't do this, but you're going to want to think through the process very carefully, and be very much aware of what the process might, or might not, produce. There are downside costs that might emerge as well, including the prospect of paying the plaintiff's legal fees, and undergoing discovery yourself.

Talk to a lawyer, or several, if you like. Be aware that they also have their own incentives, and might be quite happy to run up billable hours, so long as you're good for them.