Hedge Fund Managers Robbed At 'Richest Apartment Building'

Aug 19 2013 | 9:24am ET

The wives of three prominent hedge fund managers are among the victims of a raft of jewelry thefts at one of the world's most exclusive addresses.

Millennium Management founder Israel Englander's wife Caryl, Level Global Investors co-founder David Ganek's wife Danielle, and former Bernard Madoff feeder fund manager J. Ezra Merkin's wife Lauren all lost valuables in the scam, in which more than $250,000 in jewelry was lost, the New York Post reports. The thefts occurred at the three couples' apartments in 740 Park Avenue, which has been dubbed "the world's richest apartment building."

Law enforcement officials believe the thefts, which occurred between May 30 and July 4, while the victims were out of town, were inside jobs.

"It's a very secure building," a law-enforcement source told the Post. "No one is going to just walk in and gain access to these apartments."

The police have questioned one worker at the building, who has since been fired, but didn't have enough evidence to make an arrest and did not recover any of the stolen items.

The Ganeks appear to be the hardest hit, losing some $100,000 in items, including diamond earrings and two Patek Philippe watches. Lauren Merkin is out tens of thousands of dollars' worth of jewelry as well, including a $47,000 diamond necklace, diamond earrings, a watch and two wedding bands. And Caryl Englander saw a $7,500 watch stolen.


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note