The plaintiff moved for default judgment against a defendant noted in default who had fraudulently induced him to advance large sums of money on promises of investment returns.
The court granted default judgment awarding $327,850 in liquidated damages, $250,000 in general damages for losses due to the defendant's dishonest conduct, and $100,000 in punitive damages for reprehensible conduct in taking advantage of an unsophisticated person and depriving him of much of his life savings.
The court also awarded costs on a substantial indemnity basis in the amount of $89,448.60, exceeding the amount sought by the plaintiff, based on the Bill of Costs and the defendant's conduct.
