The appellant appealed from a trial judgment awarding the respondent US$192,000 in compensatory damages plus pre-judgment interest, $25,000 in punitive damages, and $85,000 in costs in a civil fraud case.
The trial judge found that the appellant fraudulently obtained US$200,000 from the respondent, a vulnerable widow, by misrepresenting that the funds would not be traded and then investing them in call options through his personal accounts, resulting in total loss.
The Court of Appeal dismissed the appeal, finding the trial judge's reasons were sufficient, the credibility findings were supported by the record, and the punitive damages award was appropriate given the appellant's highly reprehensible conduct.
