Jul
20
Inside the High-Profile Downfall of a $8 Billion Hedge Fund
By-
Main fund said to have funneled money to troubled credit fund
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Visium firing 33 employees in New York as funds are shut
Long before Jacob Gottlieb was forced to unwind his Visium Asset Management last month amid insider trading allegations, red flags were emerging at the once $8 billion hedge fund.
In its early days, Visium employed Gottlieb’s younger brother as compliance chief, a potential conflict of interest. The founder at one point owned shares in a company that his hedge fund invested in. And in early 2013, Visium funneled money from its main healthcare fund to its struggling credit team just before their bond fund shut down…
Inside the High-Profile Downfall of a $8 Billion Hedge Fund
