Prepare to lose all faith in humanity, ’cause it just might be. The smut lifestyle connoisseurs at FINalternatives hear that Francis Koenig, founder of AdultVest Inc., which manages the porn hedge and private equity fund Priapus, may be screwing more the tasty treats who appear in the flicks he funds (and acts in, supposedly under the name Francis O’Bannon).
Sources close to AdultVest Inc…say that it is spending investor money on more than just investments, and that what investments there are don’t account for the returns it claims. A former investor says that founder Francis Koenig is looting the fund to pay for fine art, expensive wines, cars, personal trips and alimony. Meanwhile, a former employee tells FINalternatives “there was no capital being generated” during his time at the firm.
“There is almost no money left in the fund,” the investor, who said he was privy to some of AdultVest’s financials via a court order, alleges. “Koenig has an American Express black card through the company that he uses on partying, girls and high living. Most money is missing and iPorn.com is not worth what he says it is.”
“It just seems to me the whole time I was there that there was no capital being generated,” says the former employee, who left the firm last year because he felt uncomfortable working in an office shrouded with mystery.
Here Are Some Thoughts On Men And Wall Street
Jerk Running Ferry To Fire Island Not Up On The Celebs Of Financial Reform
If you can’t trust an IM who’s into porn, who can you trust?
pornzi.
Isn’t it a bit unnerving that this article is the only one tagged under “tabasco sauce”? Surely, there must be more. The potential is limitless, Bess.
“‘It just seems to me the whole time I was there that there was no capital being generated,’ says the former employee, who left the firm last year because he felt uncomfortable working in an office shrouded with mystery.”
And why were you interested in PE?
/rhetorical
Buy low, fuck high
Gambling in a casino? I’m shocked…
As long as we trust their marks on the fine art, expensive wines and cars, I’d consider the “partying, girls and high living” to just be research expenses.
you guys ever heard of the “Chicken Cutlet”?
@6-I agree. Investors should rest assured that Koenig is doing his due diligence.
The Humanity!
It’s a Pornzi scheme! Maybe Ruth Madoff can star in one of his films.
Pink Slip, Pink Sock
Double Down, Double Dip
Mark-to-Market, Ass-to-Mouth
Is all the money shot to hell? heh heh.
arbitrage-a-trois
Went to college with Marty aka Francis Koenig. He was a Sigma Chi at Colorado State graduated 1998. His dad was a very Catholic hedge fund manager who probably will continue to be dissappointed in his son’s activities.
Does sticky-price theory apply in this example?
P&L, S&M
@15- Win
@15- Win
Please tell me I wasn’t the only one to receive multiple emails soliciting investment in this fund? God those were classic…
@2 FTW
Balance sheet, between the sheets
Always knew the money was on the come…………..
@2 excellent
@2 wins the pool
@13 honorable mention, for shock value
@11, 12, 14, 18, 23 airball. try out for jv again next year
@10 shame on you for plagiarizing. are you a Duke MBA?
@21 – What conferences have you been attending?
I’m sure his dad is very proud of him. He’s probably the only person ever to win Hedge Fund Manager of the Year and Prettiest Cock in Porn in the same year!!!