Saturday, 23 May 2015
Last updated 12 hours ago
Jan 30 2013 | 1:13pm ET
The dispute between a pair of former hedge fund partners will continue, even after a New York appeals court found unanimously that one had improperly withheld profits from the other.
The Manhattan court found that James Melcher should be awarded damages for Brandon Fradd's withholding of the $6 million. The two ran the now-defunct Apollo Medical Partners.
A jury had ruled that Melcher had no case, because he had failed to complain about the matter while he was still employed at Apollo. The appeals court dismissed that argument, finding "no rational interpretation of the evidence supports" it.
But the court also denied Melcher's bid to hold Fradd personally liable—for now. It also called for an evidentiary hearing into allegations that Fradd forged an amendment to Apollo's profit agreement and then burned it when Melcher hired an ink expert to test it.
The appellate panel said it was "troubled" by the claim and that if it were proven true, "the court should impose a monetary sanction."
Fradd claims that the amendment was legitimate and that he burned it accidentally while making tea.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…