Ex-Employee And His Father Sue Paul Touradji

Dec 11 2008 | 4:44am ET

For the Beaches, suing hedge fund honcho Paul Touradji is a family affar.

Gentry Beach this week accused Touradji Capital Management, Touradji’s New York-based commodities hedge fund shop, of withholding four years’ worth of bonuses. Two months ago, Gentry Beach’s father, Gary, sued Paul Touradji and his DeepRock Venture Partners for allegedly defrauding his investment firm.

Gentry Beach’s complaint, filed in New York State court in Manhattan, accuses Touradji of “extreme and outrageous” behavior. Among the allegations are threats to “kill the plaintiff, harm his family, ruin his marriage and destroyed his career in the hedge fund industry.” Beach, who joined Touradji as a money manager in 2005 and resigned in September, is seeking $23 million.

Meanwhile, in Texas, Gary Beach says Touradji “threatened and slandered” the managers of a joint venture between Beach Capital Partners and DeepRock, Playa Oil & Gas. The alleged fraud cost Beach Capital $8.2 million, according to the complaint.

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    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…