Solon v. Meuer , 141 Misc.2d 993 (1987)

Can a later investor in an airplane program recover their losses from an earlier investor who did not make any net profits from their participation in the program?


The New York County Court held that the later investor could recover their loses from the earlier investor despite the fact that the earlier investor did not make any net profits from their participation in the program. The defendant was deceived just as much as the plaintiff about the program's safety and effectiveness as an investment. The court ruled that the generally principles of New York's gambling laws prohibited someone from profiting from the operation of an illegal lottery, regardless of their culpability or good faith.

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Reference Info:State, 2nd Circuit, New York | United States

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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