FKB’s Andrew Kowlowitz and Asher Kest successfully moved for summary judgment on an investment fraud case which began in 2018. Plaintiff alleged a complex multi-party conspiracy to defraud large scale investors in a plan to program to support developing nations (both in “gold bars and/or diamonds” mined locally, and humanitarian efforts), in return for receiving financial support from the governments of those nations.  

Due to the complexity of the allegations, a number of missing defendants, and Plaintiff’s intransigence, discovery in this action continued for years. After significant motion practice, FKB obtained a conditional preclusion order on missing discovery and Plaintiff’s insufficient Bill of Particulars. FKB then moved for summary judgment, arguing that the conditional preclusion was absolute, and that Plaintiff was barred from offering discovery on most of the factual allegations in the Complaint. Without the ability to offer significant evidence, Plaintiff could not make a prima facie case and dismissal was necessary. The court agreed, adopting FKB’s arguments entirely, and granting a rare preclusion-based dismissal.

If you have any questions about this decision, please feel free to contact Andrew S. Kowlowitz or Asher Kest.