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.

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