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August 28, 2006

Hedge Fund Cowboys Silicon Valley Style!

posted by MR WAVETHEORY at 8/28/2006 06:48:00 PM
Clarium Capital is being sued for fraud by Cyprus based Amisil Holdings which invested $300,000 in the company for a 1% interest in 1998. The prosecution is seeking $18 million.

The suit said that while Thiel reaped multimillion dollar distributions from the fund, Amisil received no gains and was blocked from obtaining financial information about the fund.

The late 90s was a crazy time! And now the skeletons and shady deals are all coming out of the closet! Clarium was founded by Peter Thiel, founder of Paypal. It's had a great run. Thiel has been quoted in many trade publications like Barron's and Marketwatch. I like the Clarium website because of its cool facts and macro statistics. Now, maybe, the fact slide show will say, "2006, Clarium Capital Sued by Investor for ..."

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