'Damning Picture' Of Fund Admin Seen In Ponzi Scheme Suit

Law360 (April 14, 2020, 11:08 PM EDT) -- A New Jersey state judge on Tuesday said the facts "paint a very damning picture" as he refused to let the parent company of a former fund administration firm and related entities out of a more than $40 million lawsuit alleging they conspired with a convicted investment manager in a Ponzi scheme.

During a remote hearing broadcast on the state judiciary website, Superior Court Judge Peter A. Bogaard said he would deny a motion from parent Apex Fund Services Holdings Ltd. and other defendants to reconsider his Dec. 11 order rejecting their bid to escape on jurisdictional grounds the action filed...

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