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Southern District of New York Grant’s Motion to Dismiss Rico Claims

On Behalf of | Sep 21, 2021 | BLOG, NEWS ARTICLE

Plaintiff filed a complaint against Defendants for alleged investment fraud asserting violation of the Racketeer Influenced and Corrupt Organizations Act (“RICO”) and various state law claims, among others. In a 52 page decision, the Honorable Lewis J. Liman, United States District Judge for the Southern District of New York, granted Defendants’ motion to dismiss holding that Plaintiff failed to (i) satisfy his burden of proof to sustain claims under RICO; and (ii) satisfy the requirement of Rule 9(b) to please claims of fraud with particularity. Accordingly, the Court also held that Plaintiff failed to satisfy a showing of federal court jurisdiction. Dr. William Bongiorno et al. v. William Banquet, et al., No. 20-cv-7288 (LJL)(S.D.N.Y. September 20, 2021).