Hedge Funder Sues Beauty-Queen Ex Over Credit Card Spree

Mar 4 2013 | 12:42pm ET

A hedge fund manager has sued his ex-girlfriend, accusing the former beauty-queen of putting nearly $60,000 on his credit card after they broke up.

Altai Capital's Rishi Bajaj accused Liz Kranz, Miss New Mexico Teen USA 2007, of spending $96,000 of his money during their brief relationship last year and for several months thereafter. He's asked a Manhattan court to force her to repay him at least $40,000 to cover the credit-card charges, as well as a $20,000 loan he made to her and a $17,070 down payment on a BMW they were to share.

Kranz allegedly told Bajaj she needed the $20,000 to help pay for a relative's rehabilitation.

Kranz did return the car. But Bajaj said she has refused to pay back any of the money she borrowed or spent, and that the two have had "disagreements about their remaining obligations to each other" since the end of the "several month" relationship.

Last year, Bajaj's lawyer accused Kranz of "theft, fraud and other egregious misconduct" and demanded that she pay the full $58,860 American Express bill.

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