Investors Push To Revive Fraud Suit Over Pre-Wirecard Sale

Law360, London (February 4, 2021, 5:59 PM GMT) -- Investors urged the Court of Appeal on Thursday to revive a fraud suit against their former Indian business partners for allegedly duping them into selling a financial services company for a pittance, saying the English courts have jurisdiction over the claims.

Stephen Midwinter QC — barrister for Prashant Manek and Sanjay Chandi — argued that his clients were tricked into selling their shares in Hermes i Tickets Private Ltd., a money transfer and insurance payments company, at a series of meetings in London in August 2015.

The men say Hermes' former majority shareholders, Ramu Ramasamy and Palaniyapan Ramasamy, convinced them to...

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