Friday, January 6, 2012

The Sex and Money Scandal Rocking Hedge Fund Land


John Carney writes: “Have you heard the one about the currency trader, the stripper, and the sister of a convicted insider trader?

It begins when a guy living on Connecticut's hedge fund strip went to the police to report that his personal assistant had stolen around $150,000 from him. He said he had discovered the theft after a Norwalk, Conn., hospital informed him that it was unable to process a $607 check written out in his name. This raised suspicions because he had never been in the hospital.

He informed police about the stolen money and told them that his personal assistant had access to his credit cards and checkbook. The assistant was found in North Darthmouth, Mass., when local police ran the plates on her Porsche Boxster. This is the first indication that something is odd about this story: How many personal assistants can afford a Porsche?

The next part of the story was told with unbelievable straight reporting by Hearst staff writer John Dickerson. According to the Dickerson, the 28-year-old assistant not only denied the allegations of embezzling from her employer, she said that she was being paid extra for spending days and nights “in the company” of her employer and his fiancé….

Find out more at http://www.cnbc.com/id/45888292

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