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