Investor Says He Trusted Shipping Tycoon In $9M Fraud Trial

Law360, London (July 5, 2021, 6:44 PM BST) -- An investor suing shipping magnate George Logothetis for $8.9 million for allegedly fraudulent misrepresentation said at a trial in London on Monday that he "trusted" his former friend when he entered into a joint venture to invest in container vessels.

Victor Pisante claimed that he agreed a joint venture in 2013 with the Logothetis family shipping business, Lomar Corp. and private equity firm Kohlberg Kravis & Roberts LP, known as KKR, with a "minimum of formality" based on the friendship between him and his wife with Logothetis and his wife, who he claimed they had met the year before in New...

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