The plaintiff sought summary judgment and default judgment against multiple defendants in connection with a $2,000,000 investment made into a company controlled by the defendants.
The plaintiff alleged the investment was misappropriated and used for personal expenses and to pay other investors in what amounted to a Ponzi scheme.
The court granted summary judgment against the primary defendants for the full amount, finding fraudulent misrepresentation and piercing the corporate veil.
Default judgment was granted against the remaining defendants who failed to file a statement of defence, and punitive damages were awarded.
