In re Marriage of Kamgar

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Fred Kamgar appealed a judgment ordering him to pay his wife Moira Kamgar $1,952,056.50 for breach of his spousal fiduciary duties in failing to disclose to her that he engaged in options trading, and traded an additional $8 million more than the $2.5 million in community assets she agreed he could trade in their investment account. The trial court determined Fred’s undisclosed and reckless trading resulted in a loss of almost $4 million, in addition to losing the initial $2.5 million. Fred contended the evidence did not support the conclusion he violated his fiduciary duties. Moira contended she was entitled to more than the $1.9 million award she received as her community interest in the $4 million loss. Finding the law and the evidence amply supported the trial court’s award, the Court of Appeal affirmed. View "In re Marriage of Kamgar" on Justia Law