Hedge Fund Manager's Ex-Assistant Admits Ripping Him Off

Mar 21 2013 | 12:21pm ET

The former assistant to hedge fund manager Todd Meister has pleaded guilty to stealing almost $1 million from him.

Renata Shamrakova, who had previously denied the allegations and claimed that she and the Pride Rock Management co-founder were lovers, was ordered to repay Meister $821,000 within two years. If she fails to do that, the judge told her, she'd be sent to prison for at least a year. That, apparently, will not happen, as Shamrakova's parents plan to sell a piece of property in upstate New York to cover the restitution.

The judge also warned Shamrakova, who also admitted that she hid financial records in defiance of a search warrant, that she'd be sent to prison for six years if she misses any future court dates, is arrested or contacts Meister, who is better known as the son of Aon Group executive Robert Meister and the ex-husband of socialite Nicky Hilton.

Shamrakova ran up $900,000 in unauthorized charges, traveling around the world and buying thousands of pieces of jewelry she then sold online, on two American Express cards she and her boyfriend opened in Meister's name. She then wrote checks from Meister's bank accounts to pay them off, without his permission.

Meister has denied that there was any romantic relationship between him and Shamrakova.


In Depth

Q&A: Brevan Howard’s Charlotte Valeur Talks Strategy

Sep 18 2014 | 11:18am ET

Charlotte Valeur chairs the board of Brevan Howard Credit Catalysts, an LSE listed...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.