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
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