The plaintiff brought an action arising from a land banking investment scheme that resulted in losses exceeding $250,000.
The defendants had been noted in default, and the matter proceeded as an undefended trial to determine liability and damages.
The court held that the pleaded facts established fraudulent misrepresentation, as the defendants knowingly promoted investments in land unlikely to receive development approval while promising substantial returns.
Judgment was granted jointly and severally against two individual defendants for the full value of the investments, and punitive damages were awarded against one defendant due to egregious conduct exploiting the plaintiff’s vulnerability and disability.
Claims for aggravated damages were dismissed for lack of evidence that psychological benefits were within the parties’ contemplation.
