An investor who claimed he was defrauded of $4 million had his case dismissed by a Manhattan Commercial Division judge, who said it is “not the court’s role to insulate sophisticated business entities from the consequences of their own risky investments.”
Justice Anil Singh said Katzrin Finance Group owner David Azar’s case against Vincent Ney and Jon Greidel failed because Azar could not show “justifiable reliance” on the defendants’ assurances the investment was likely to reap large returns.
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