Are You Not Supposed To Use Client Funds On Private Jets, Move Money Between Onshore And Offshore Accounts?

If so, no one ever told Perry Gruss.

US market regulators yesterday sued the former CFO of a multibillion-dollar hedge fund founded by Daniel Zwirn, accusing him of improperly transferring $870 million between the fund’s accounts. The lawsuit filed by the Securities and Exchange Commission accused Perry Gruss, of the now defunct hedge fund D.B. Zwirn & Co. of improperly transferring money between onshore and offshore accounts and for using client money to pay for a private plane.


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60 Responses to “Are You Not Supposed To Use Client Funds On Private Jets, Move Money Between Onshore And Offshore Accounts?”

  1. Phil_Falcone says:

    I think its only an issue if you don’t pay it back.

  2. Perry Archer says:

    DBZ & Co isn’t your own personal travel agency. It doesn’t exist just so you can jet off to.. Whore Island.

  3. Texashedge says:

    That’s what management fees are for

  4. Guest says:

    Give the guy some credit for the planes he purchased legitimately.

  5. Anonymous says:

    It’s funny until someone gets caught. And then it’s even funnier.

  6. Chuddy says:

    coincidence that the firm is named DB……(Zwirn)?

    I think not.

  7. Wall st insider says:

    you will see that Gruss is innocent of all charges and will be announcing a massive counter suit against the SEC shortly to go along with his current suit against Zwirn.

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