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

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

As initial anxiety over Donald Trump’s victory gave way to market euphoria in the days following the election, there was a casualty. Gold prices.