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...
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