PayPal co-founder Peter Thiel's hedge fund sued for fraud by investor

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PayPal co-founder Peter Thiel's hedge fund sued for fraud by investor

08-29-2006, 03:17 PM,

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regic Offline

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PayPal co-founder Peter Thiel's hedge fund sued for fraud by investor

Quote:An investor in Clarium Capital Management, a hedge fund headed by PayPal founder Peter Thiel, filed suit on Monday, saying it was defrauded out of returns for nearly a decade, according papers filed in the U.S. Court for the Northern District of California.

The civil suit, filed by Cyprus-based Amisil Holdings Ltd., is seeking recovery of up to $18 million, which it said represents the current value of its interest in Clarium, according to a court filing...

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...

full article: http://today.reuters.com/news/articleinv...px?view=CN&storyID=2006-08-28T225928Z_01_N28353847_RTRIDST_0_FINANCIAL-CLARIUM-LAWSUIT.XML&rpc=66&type=qcna

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