Peter Nygard ordered to pay billionaire neighbor $203 million in damages after driveway feud escalated to accusations of arson and Ku Klux Klan hyperlinks

• A hedge fund supervisor was awarded $203 million in damages after being defamed by former neighbor Peter Nygard.
• Disgraced vogue mogul Nygard accused Louis Bacon of arson, insider buying and selling and hyperlinks to the KKK.

A hedge fund billionaire has been awarded $203 million after a New York courtroom dominated he was defamed by his former Bahamas neighbor Peter Nygard following a decade-long feud ignited by a shared driveway.

Nygard, a disgraced vogue mogul dealing with a number of intercourse trafficking fees, was ordered by a New York court-appointed decide to pay the most important defamation settlement within the state’s historical past to Moore Capital Administration founder Louis Bacon after peddling a number of wild allegations.

Arguments between Bacon and Nygard started when the 2 had been neighbours within the gated Lyford Cay neighborhood on Clifton Bay within the Bahamas.

Bacon complained that Nygard, who used a driveway owned by Bacon, held a number of disruptive events at his residence, whereas Nygard accused Bacon of scuppering his redevelopment plans after a hearth, per the Monetary Instances.

This steadily escalated into more and more vicious assaults by Canadian vogue mogul Nygard, with Bacon’s attorneys saying he personally spent $15 million on a smear marketing campaign towards Bacon.

Within the preliminary grievance filed in 2015, Bacon mentioned Nygard had employed journalists to hawk conspiracies concerning the hedge fund supervisor, together with that Bacon had participated in insider buying and selling, that he was linked to the demise of his home supervisor, that he was answerable for a hearth at Nygard’s property, and that he was concerned within the Ku Klux Klan.

“Nygard and his sidekicks have alleged on a lot of events that ancestors of mine residing within the nineteenth and 18th centuries, whom I after all, by no means knew, had been related to racist teams or slaveholding,” Bacon wrote on the time.

In line with the FT, Choose former U.S. District Choose Layn Phillips mentioned the “overwhelming” and “really beautiful” nature of the proof introduced ahead warranted the file sum.

“Any considered one of these would have been a big assault on his character; the mixture of all 4 depicted him as an evildoer of the best order,” the referee mentioned in his ruling, per the Wall Avenue Journal.

Attorneys advised the courtroom Bacon had spent greater than $50 million in authorized charges bringing a number of defamation circumstances towards Nygard.

The settlement is an enormous determine for a person defamation case. By comparability, Fox Information not too long ago settled its mammoth defamation case introduced by Dominion for a comparable $787.5 million.

Nygard was accused by the Division of Justice in 2020 of utilizing his Bahamas property to hold out “pamper events” concentrating on dozens of victims. The allegations have worn out his enterprise empire.

Nygard’s attorneys did not instantly reply to a request for remark.