Bakwin v. Mardirosian

Defendant was convicted of possessing or concealing stolen paintings. The victim of the theft (Plaintiff) filed a civil suit against Defendant for, among other claims, violations of the Uniform Fraudulent Transfer Act (UFTA) due to Defendant’s transfers of assets to his family members following the discovery of his identity as the holder of the stolen paintings. Plaintiff also brought claims for relief under the UFTA against Defendant’s family members alleged to have received the fraudulent transfers. A jury found Defendant had made seven fraudulent transfers within the meaning of the UFTA, entering judgment against Defendant for more than $4.3 million. Additionally, the judge ordered equitable remedies against the relief defendants for the purposes of identifying specific assets that had been fraudulently conveyed and could be subject to reconveyance in satisfaction of the judgment against Defendant. Lastly, the judge dismissed the claim against one of the relief defendants concerning assets in a shared trust because the funds in the trust had been dissipated. Defendant appealed, arguing that money judgments should have been ordered against the relief defendants. The Supreme Judicial Court affirmed the judgment except in respect to a savings account and the shared trust. Remanded.View "Bakwin v. Mardirosian" on Justia Law