Jury Awards $352K in Investment Fraud Conversion Case
Table of Contents
Case Background
This case originated from a broken trust between two men, Matty Feldman and John A. Masanotti Jr., who had met six years prior as part of a local motorcycle riding group. Their relationship had evolved beyond casual rides; Mr. Masanotti frequently organized the group's long-distance excursions, including trips to the famous Tail of the Dragon in North Carolina. During one of these shared trips, Mr. Masanotti, a Darien resident, had told Mr. Feldman he managed money, stating he only invested for close friends and family. Based on this established relationship as "riding buddies," Mr. Feldman agreed to entrust his savings to Mr. Masanotti for management.
In October 2019, the relationship shifted to a business arrangement when Mr. Feldman delivered a check for $100,000.00 to Mr. Masanotti for investment. Crucially, Mr. Masanotti had instructed Mr. Feldman to write the check out to "Middlesex Group," which Mr. Feldman later claimed he understood to be nothing more than Mr. Masanotti himself operating under a different name. The ensuing litigation centered on the use of these funds and whether Mr. Masanotti had treated Mr. Feldman’s money as his own personal bank account.
Cause
The core of Mr. Feldman’s complaint was the Defendant’s act of Conversion. Conversion is a legal term for wrongfully exercising dominion or control over another person’s personal property, in this case, the $100,000.00 investment. Mr. Feldman maintained that Mr. Masanotti took the funds and intentionally used them for his personal benefit rather than for any legitimate investment purpose, effectively stealing the money. The complaint alleged Mr. Masanotti’s control over his business entity, Middlesex Mortgage Group, LLC, was so absolute that the company was merely his personal alter-ego, allowing him to use the company’s name to conceal his personal dominion over Mr. Feldman’s money.
Injury
The primary injury suffered by Mr. Feldman was financial. He claimed the direct loss of his principal investment of $100,000.00, along with all potential gains and income that the money might have earned had it been properly invested. This financial loss resulted in significant harm, warranting a claim for substantial compensatory and punitive damages.
Damages Sought
Mr. Feldman’s legal team filed the complaint seeking significant financial relief. They sought recovery for the full amount of Compensatory Damages the actual money lost plus interest and any consequential losses. Furthermore, due to the alleged willful and malicious nature of the conversion, the Plaintiff sought Punitive Damages as a measure to punish the Defendant’s conduct and deter similar future actions. Finally, Mr. Feldman claimed reasonable attorneys' fees and other costs associated with pursuing the lawsuit. The amount demanded exceeded the minimum claim threshold of $15,000.00.
Key Arguments and Proceedings
Legal Representation
Plaintiff(s): Matty Feldman
· Counsel for Plaintiff(s): Michael Oh
Defendant(s): John A. Masanotti Jr.
· Counsel for Defendant(s): Scott S. Centrella | Chloe M. Mangan | pro se
Key Arguments or Remarks by Counsel
Claims
Mr. Feldman’s attorney argued that Mr. Masanotti had committed classic conversion by taking Mr. Feldman’s investment funds and exercising complete unauthorized control over them for his own personal gain. They argued that the promise of investment management had been a deliberate deception a fraudulent ploy that Mr. Feldman relied upon because of their personal friendship. A major part of the Plaintiff’s case focused on establishing that Mr. Masanotti and the corporate entity, Middlesex Mortgage Group, LLC, were one and the same in effect, which allowed the jury to pin the liability directly onto Mr. Masanotti as an individual.
Defense
Although the primary Defendant's answer was not provided in the case filings, the defense undoubtedly centered on a denial of the core allegations. Mr. Masanotti’s defense likely asserted that he had not misappropriated the funds, or that he had used them as agreed, or that the issue was merely a commercial dispute, not a malicious civil wrong like conversion. The defense would have attempted to argue that Mr. Feldman failed to meet the high burden of proof required to demonstrate a willful act of conversion and that the corporate veil of Middlesex Mortgage Group, LLC, remained intact, shielding Mr. Masanotti from personal liability.
Jury Verdict
After hearing the evidence and arguments for the case, the jury found the issues in favor of the Plaintiff. On August 14th, 2025, the jury returned a verdict finding the primary Defendant, John A. Masanotti Jr., liable for Conversion.
The jury specifically determined that Mr. Feldman had proved his claim of civil conversion against his former riding buddy. The jury calculated the total damages that resulted from this finding.
The final verdict awarded the Plaintiff, Matty Feldman, a total of $352,842.83 against John Masanotti Jr. The jury on the issue of abetting and aiding passed the verdict in favor of the Defendant and against Plaintiff, Matty Feldman.
Court Documents