NJ Appeals Court Upends Civil Judgment Over Ponzi Scheme

Law360, New York (October 4, 2017, 7:06 PM EDT) -- The New Jersey Appellate Division on Wednesday upended a jury’s civil judgment against a financial planner with a firm that carried out a $40 million Ponzi scheme, ruling the defendant's forward-looking statements about an investment opportunity didn’t amount to fraud but that he still has to face aiding and abetting claims.

Brian Patrick Carr may have owed a duty as a member Carr Miller Capital Investments LLC not to provide erroneous information to a client, but his overly optimistic predictions about the future performance of a...
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