Friday, 29 August 2014
Last updated 4 hours ago
Nov 5 2009 | 2:15pm ET
Touradji Capital Management has countersued two former employees, claiming they cost the commodities hedge fund shop millions.
The suit, filed yesterday in Manhattan state court, accuses Gentry Beach and Robert Vollero of being “responsible for the destruction of millions of dollars of investor capital through a pattern of fraud, breaches of fiduciary duty, mismanagement and utter disregard for the interests of the investors.” Touradji is seeking at least $250 million.
The hedge fund also named Gentry Beach’s father, Gary, claiming that he stole money from a joint-venture between Touradji and Gary Beach’s firm, Beach Capital.
Gentry Beach and Vollero, former employees of Touradji, claim the hedge fund withheld more than $50 million in bonuses. Gary Beach has also sued Touradji, saying it “threatened and slandered” the members of their joint venture, Playa Oil & Gas.
All three men denied any wrongdoing. A spokesman for Gentry Beach and Vollero called the Touradji countersuit “a desperate attempt by Paul Touradji to distract from the serious claims against him.”
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...