Giannone v. Cohen

OPINION OF THE COURT

JAMES HUNTER, III, Circuit Judge:

Charles Giannone appeals from a decision of the district court affirming the bankruptcy judge’s determination that Giannone is not entitled to reclaim money which he paid to Paragon Securities Company (hereinafter Paragon or Company), prior to the date of Paragon’s bankruptcy. In this suit, Giannone contends that Paragon acted fraudulently both in inducing Giannone to enter into a contract for the purchase of securities and in accepting Giannone’s payment for the securities when Paragon was insolvent. Giannone asserts that Paragon’s fraud…