Quite a few months back, a couple of former Touradji Capital Management employees sued the hedge fund for some $50 million in unpaid bonuses. Yesterday, in its own lawsuit, Touradji made explicitly clear why it didn’t pay Gentry Beach and Robert Vollero the money they think they are owed. And the hedge fund is demanding $250 million for its trouble.
In the 55-page suit, Touradji lays out in exquisite detail what a couple of screw-ups Beach and Vollero allegedly are. A selection:
- “Beach and Vollero were responsible for the destruction of millions of dollars of investor capital through a pattern of fraud, breaches of fiduciary duty and utter disregard for the interests of the investors whose capital they were obligated to protect.”
- Beach’s father stole $500,000 from a joint-venture private equity investment with Touradji. “Contemporaneously with these events, on September 26, 2008, Gentry Beach claimed that he was ‘forced to resign’ from Touradji Capital–even filing a false police report in which he claimed he had been threatened–when in fact he had already set up a competing business well before that time.”
- After Beach left the firm, “Vollero remaind at Touradji Capital deviously and unethically gathering confidential information about the firm and creating a fraudulent record concerning his compensation….”
- “Not content to have inflicted this harm on Touradji Capital and its investors, Beach and Vollero–who were paid millions of dollars while at Touradji Capital–have no filed a complaint in which they demand over $50 million in additional compensation,” even though the “supposed agreement… was never set forth in a written contract.”
- “Beach and Vollero’s claim for millions of dollars in additional bonus compensation is therefore a particularly brazen example of the sort of stomach-turning greed and entitlement that has made headlines for the past year.”
- “Beach and Vollero’s claim… is also based upon the false premise they had nothing to do with the poor performance of Touradji Capital’s private equity investments.”
- “Beach, in particular, was fundamentally incapable of managing a trading portfolio…”
- “Put simply, the idea that Beach and Vollero–who raised virtually no capital and who did not even possess the experience or skills that they had represented to Touradji at the time they were hired–would themselves be entitled to a majority of the profits to be earned by Touradji Capital from its Funds’ equity portfolios, is preposterous.”
- “Beach’s fundamentally dishonest nature…”
- “Beach had thus long ago ‘ruined’ his own marriage, yet now has cynically turned that conduct into a false allegation about Touradji.”
- “Nor were Beach and Vollero’s lies and misconduct limited to their business dealings while at Touradji Capital.”
- “As Beach once secretly confided to Vollero, ‘We can overcome our weaknesses together.’ This statement also aptly describes this very lawsuit: A collusive effort by two young men to fabricate a claim for compensation when the evidence defeats such a claim absolutely.”
Wow.
Touradji Capital v. Gentry Beach and Robert Vollero
Touradji Sues Former Employees, Alleging ‘Mismanagement’ And ‘Utter Disregard’ [FINalternatives]
Who would let this guy manage money?
Sounds like Beach and Vollero are a couple of shitheels.
You just don’t fuck with Marcello Wallace.
“of stomach-turning greed and entitlement…”
The personal stuff is OK but this accusation is a bit of a stretch coming from a HF.
(And tone down on the hyperbole a notch, Shazz)
Touradji
Raj
Zvi Goffer
Choo Beng Lee
Ali Far
Danny Peng
Shazar
Fuck these Borats! If you can’t pronounce the manager’s name, don’t invest in the fund!
SHAZZANUSCLOPS vs LOBSTERCLOPS for the CLOPS battle of the ages!
And I thought this was an article about Beach Volleyball.
Back to Yahoo!Finance for me.
Id like to spit some Beechnut in that dudes eye.
-Bocephus
Kind of reminds me of that scene when The Gang Sells Out and they suddenly realized the tables are turned.
Seems like a smearjob countersuit to garner publicity to boot and to get them to settle? Anyone from AboveTheLaw want to comment? Anyway, if the dudes didn’t get that shit locked down in a written agreement, good luck fighting Touradji.
Touradji means God of Wealth in Al Qaeda.
@10 I’d love to help, but first can you please tell me what is a Clops?
-Abovethelaw reader and comment observer
Touradji Capital — Our Bloomberg terminals are outfitted with kebab grills.
A CLOPS is not a BLANUS.
Jon,
You do understand anyone can write absolutely anything they want into a lawsuit. Yet statements made in a suit do not mean they are factual. When you have a moment, put Jonathan Lee Riches into Google and see what gets spit back.
What you’ve done here is taken Touradji at his word, which seems dangerous. After all, the guy is counter suing to get out of paying $50 million in bonuses. Don’t you think he’s going to put lots of stuff in the lawsuit about no “written contract” and lots of “fabricate a claim for compensation?” Think about it for a sec, if someone was suing you for $50 million, what would you say?
So instead of any critical analysis, you’ve given Touradji a very big microphone from which he can shout his denials of the claim. I mean, he said it in a lawsuit, so it must all be true, right?
That’s cool. No doubt Touradji and his PR firm pay you more than DB/FINAlternatives.
Ease up on the racism white breads….it reveals your impotent jealosuy.
Bloomberg’s profile of this guy quotes Julian Robertson as saying “Touradji is one of the best commodities managers out there”; he worked at Tiger; had the best Commodity Fund performance in 2008, and pulled in $50 Million last year alone; and he continues to manage $2+ Billion.
The above, 99.9998% of DB readers have not done…nor will ever do.
I have never heard of these Beach dudes, outside of them partying with Paris Hilton, and being in their early 30s.
Sorry, I am betting on the Touradji.
@16
You have one extra 9 in 99.9998%.
- White Bread with non-impotent jealosuy.
@16: I would pull in $50 Million a year too if I knew how to trade Hummus futures.
sour a$$ grapes…vollero is a good dude. if he’s claiming he deserves $50 million, my guess is that touradji took home a lot more – seems to me he got greedy and now he’s got his business all out in the public.
Dared Sue to do what?
- another former Lehman quant
“Beach, in particular, was fundamentally incapable of managing a trading portfolio…”
awesome
@ 18 FTW
A few years back we all had Gentry for SEC fallboy, guess Raj makes more sense visually.
Gentry is a very unique person, full of pride and ambition but I would concur with PT on ability. Vollero is solid but might have fallen for Gentry’s schemes one too many times. Hate to see this kind of stuff, bad for the industry.
Reveal yourselves. I will fuck all of you in the ass.
I used to work with Gentry and Vollero at morgan, i am so glad that someone finally outed them. they are BOTH the worst examples of scam artists there is on wall street. gentry was then and still is an utter joker. if youve met him, you’ll know exactly, the guy is an absolute clown. and vollero, his little sidekick, a complete slimball. im glad they are getting their comeuppance
guys, im a lawyer. have you READ this filing!? look at #25, beach and vollero are TOAST in court. you dont often see evidence this solid. say goodnight boys 25. Contrary to the present lies that Beach and Vollero have used to prop up their Amended Complaint, this purely discretionary bonus arrangement is reflected in due dilgence documents distbuted to investors in Touradji Capital by Beach and Vollero themselves:
Compensation
The Touradji Capital team members receive a fixed salary and a DISCRETIONARY bonus which may or may not be drven by the performance…
ask any of your friends who work in the biz covering energy, this beach guy is freakin famous for being a no talent assclown. seriously, call up someone you know at sac,gs,whoever and ask’em what they think of gentry. then sit back and laugh at the stories they tell you. this guy is a buffoon! hi gentry, how’s your dptr long doing? did it goto $500 like you obnoxiously said it was in the idea dinner way back? or a $1. well thanks tex, we’ve been making good dough doing the opposite of your hotair ideas for years. someone please get this douche another job so we can keep making money off his designer suit wearing ass.
These guys are dildos and 26 is correct. Their anuses will be dipped in sawdust and violated with the blunt end of a telephone pole.
Agree with Turd Ferguson. Would also add that Gentry is not just full of pride and ambition, but also full of shit. He’s a liar and a bad guy. I don’t know Touradji, but I do know Gentry. My hunch is that there’s more fact than falsehood here.
Isn’t Touradji shooting himself in the head for proving he kept these clusterfucks around as long as he did? (Or is that what they were hoping – that he’d stay quiet?)
And you commenters are worried about foreign sounding names?….sorry, but every HF jackass I’ve met with a Texas humdinger handle of a name (Yeah, that’s YOU, Gentry…and the rest of you jagoffs know who you are) has been a complete, white-toothed, aw-shucks-I-gotta-big-cock-is-all incompetant.
Until “managers” start understanding that playing varsity football isn’t a prerequisite for knowing something about finance, more of these suits will be a-comin’…
Let’s hope Raj-raj gets to pack Gentry (or Hunt or Clay or whoever’s) fudge down on the fed farm…
“We can overcome our weaknesses together.”
Isn’t that the motto of the League of Justice’s farm team?
Google Gentry Beach for some priceless pics.
I will fuck all of you up the ass. Seriously. i will
@32 – was just gonna say that!
Love the one of him at the Hamptons with his lovely wife and cabbagepatch kid (named Gentry Jr, natch!). I’m sure she was thrilled to learn about the Argentinian student….
assssssshaaaaaaaat…asssssshaaaaaat…
number 33 sounds like that idiot is getting tetchy reading the truth for once. This case doesnt look good for the jokers now.
@16. Touradji’s 7.9% is the “best commodity fund of 2008″? Is his 5.6% through September 2009 the best of 2009? Red Kite, Clive, AAA, BlueGold and 50 other funds must have falsified their stats. Some day I hope I can match Touradji.
- John Arnold
#34, #32 here — my favorite is the one of Gentry and Don Trump Jr. That’s priceless and should show up as the definition of “douchebag” in any dictionary.
@36 yes good point but reading this suit it sounds like touradji had to make extra $$ to cover the clowns losses. @32 where does he get his clothes ? same joke shop he gets his talent?
What is a Gentry Beach?
@33 – Is that you Gentry? Can you get your little sis Taylor to blow me? I hear she’s irrepleaceably talented…while I’m sure she’s imminently replaceable, I just want to make sure she’s a swallower.
I will find all of you.
.
I will find all of you and fuck you up the ass.
.
Your ass. Fucked.
.
Seriously
what a trio of corrupt retards
Don’t ever talk about my sister, you useless piece of shit.
@43 – you kiss your mom with that mouth, Gentry?
And is she a partner in A$$hat Drilling Mega-Opportunities Partners LP, too?
@ 32 dude rolf lol, beach looks like a recipient for the biggest douche in the universe award. Sing it! “he HE comes the biggest douche the universe has ever seen”. after reading the allegations in the filings the douche is just asking for a rough ass rape right now.
Enjoy: http://www.nysocialdiary.com/i/partypictures/03_14_08/IMAGES/AMNH3_Pics/1430–Gentry-and-Kathryn-Beach-with-Vanessa-and-Donald-Trump-Jr._RM.jpg
you guys are missing the real joke on this joker beach. this social climbing prick (we call you goldiggers here son) is one of the most antisemitic pricks in NYC. he’s been know to enjoy joking about huntin’ kikes and ni**ers back where he come from, at ny upper east side social parties. well BOY, im glad someone did out you, cuz we UPSTANDING people of the world, whether Jew or Black or Christian, will always hunt down and eliminate your dirty kind out of our society. its time now for you to go back to where you came from
no way ny, we dont want him either! I work in IR at an oil&gas company, and believe me we think Gentry is a complete loser as well. To have this silverspoon jackoff repeatedly come down here and try to tell us how much smarter he is than us all these years has been tiring. as far as we’re concerned, he’s a wall streeter and the worst kind, so y’all keep him. he aint no real Texan (he aint even no okie, thats how low he is). oh and gentry, you did NOT ‘discover’ the bossier you arrogant sonofabitch
Wow. Stay classy, guys.
Don’t EVER talk about my sister, you fuckers are gonna get fucked.
Mark my words. Real tough to talk behind a computer screen, isn’t it?