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››Chancellery orders reimbursement of $ 4.4 million investment fraud lawsuit

Chancellery orders reimbursement of $ 4.4 million investment fraud lawsuit

By Pia
June 17, 2021
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Law360 (June 16, 2021, 11:38 p.m. EDT) – A Delaware judge found on Wednesday that a bankrupt real estate fund founder had fraudulently tricked entities into investing in his ‘carelessly managed’ fund, then secretly loaned nearly $ 4.4 million of their money to a friend who was trying to set up sports ad franchises, ordering him to pay back investors.

The Chancellery Court judge ruled in his 32-page opinion that fund manager Albert Adriani has persuaded investors, such as investment vehicle Sehoy Energy LP, to invest in his fund under false pretenses and must now pay back their investments, plus interest.

“I believe that [Adriani] went overhead and did a series of …

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