Judge Releases Ex-Hedge Funder Jailed For Not Paying Alimony

Oct 31 2013 | 9:05am ET

After more than two months in jail for failing to pay his alimony, a former hedge fund analyst has been released.

Ari Schochet once made about $1 million per year—leading a family-court judge to order him to pay nearly $100,000 in alimony and child support per year. The only problem is, Schochet lost his job at Citadel Investment Group four years ago, and has had trouble finding a job since then. He owes nearly $250,000 in arrears.

A New Jersey judge on Tuesday ordered a stay in his incarceration, which has been part of a work-release program: Schochet leaves the Bergen County Jail for work each weekday, but spent his nights and weekend behind bars. It was his eighth time in jail for failure to pay alimony over the past two years.

Schochet currently holds an entry-level position, earning a fraction of his former salary.

"Being able to pay the alimony amount based on my old salary will be impossible to do," he told the Bergen Dispatch.


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR