Tuesday, 31 May 2016
Last updated 3 days ago
Aug 14 2014 | 6:17am ET
Moore Capital Management founder Louis Bacon has asked a U.S. court for help in his increasingly bitter battle with Canadian fashion mogul Peter Nygard over the latter’s Bahamas estate.
Bacon and the Coalition to Protect Clifton Bay, of which he is a prominent member, have asked a federal court in New York with help obtaining more than 1,000 hours of video footage that Bacon wishes to use in his lawsuit against Nygard in the Bahamas. The film was shot by Nygard’s personal videographer, who Bacon said approached him in March with evidence that Nygard was orchestrating a “smear campaign” to paint the hedge-fund manager as a racist, insider trader, drug trafficker and murderer.
“The smear campaign is intended to disparage, intimidate and ultimately drive Mr. Bacon away from the Bahamas,” Bacon alleged in the lawsuit.
The videographer, Stephen Feralio, who said he worked for Nygard for two years, said he is “willing to come forward and to turn over the video evidence in my possession because it is the right thing to do.” But he wants the court order to protect himself from retaliation, Bacon’s lawsuit alleges.
According to Bacon, Nygard paid demonstrators in July to march in the Bahamian capital, Nassau, carrying signs linking Bacon to the Ku Klux Klan. He’s also allegedly flown Nation of Islam leader Louis Farrakhan to the islands to speak at another rally denouncing Bacon as a racist.
Feralio said he uploaded 16 attack videos against Bacon on YouTube last year, including false allegations such as KKK membership, involvement in several killings and drug trafficking, and insider trading.
Bacon has sued Nygard for defamation in the Bahamas. But his main complaint is over Nygard’s compound in the exclusive Lyford Cay neighborhood. Bacon, who is Nygard’s immediate neighbor, alleges that Nygard has nearly doubled the size of his property by illegally dredging and building sea walls, threatening the area’s ecosystem. He also alleges that Nygard is rebuilding his 150,000-square-foot home without the necessary permits.
Nygard denies the allegations and his lawyers say he plans a countersuit in New York.
“Today’s lawsuit is a continuation of Louis Bacon’s malicious campaign against Peter Nygard with the objective of obtaining Mr. Nygard’s Bahamian property (Nygard Cay) through illegal means, and to wrongfully continue to damage Mr. Nygard’s businesses and reputation.”