Fund Admin's Parent Can't Escape $40M Ponzi Scheme Suit

Law360, Morristown, N.J. (November 1, 2019, 5:30 PM EDT) -- A New Jersey state judge on Friday shot down a bid by the parent company of a former fund administration firm and related entities to escape on jurisdictional grounds a more than $40 million lawsuit claiming they conspired with a convicted investment manager as part of a Ponzi scheme.

In handing a victory to the Vicor Tax Receivables LP investors pursuing the suit, Superior Court Judge Peter A. Bogaard found that the Garden State has jurisdiction over parent Apex Fund Services Holdings Ltd. and other defendants with respect to allegations involving the onetime fund administrator, Apex Fund Services (US) Inc., which...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS