brazen webs of lies

Remember Andrey Hicks? For those who can’t keep their founders of fake hedge funds straight, he’s the guy who ripped off Kim Kardashian’s 72 day husband, Chris Humphries, along with a bunch of other investors in his Locust Offshore Management fund, and in 2011 was arrested and had his assets frozen by the Securities and Exchange Commission, which took issue with the “brazen web of lies” he’d fed people that included:

  • The claim he received a Ph.D in Applied Mathematics from Harvard in two years (he neither earned his doctorate from Harvard nor his undergraduate degree and in fact only lasted three semesters in Cambridge, taking a single math course, in which he got a D-).
  • The claim that while working at Barclays Capital, he increased his group’s assets under management to $16 billion, despite BarCap having no record of his employment.
  • The claim that at Locust, he applied “quantitative strategies based on mathematical models he developed at Harvard”
  • The claim that Ernst & Young was the fund’s auditor, Credit Suisse its prime broker and custodian, even though the SEC report was the first either had heard of the guy.

Anyway, he’s going to do some time. Read more »

Remember Andrey Hicks? To recap, he’s the guy who was arrested last year (trying to make a run for Switzerland) and had his assets frozen by the Securities and Exchange Commission, which took issue with the fact that, in addition to stealing a couple million from investors in his Locust Offshore Management fund, he’d fed them a “brazen web of lies” that included: the claim he received a Ph.D in Applied Mathematics from Harvard in two years (he neither earned his doctorate from Harvard nor his undergraduate degree and in fact only lasted three semesters in Cambridge, taking a single math course, in which he got a D-); the claim that while working at Barclays Capital, he increased his group’s assets under management to $16 billion, despite BarCap having no record of his employment; the claim that at Locust, he applied “quantitative strategies based on mathematical models he developed at Harvard”; the claim that Ernst & Young was the fund’s auditor, Credit Suisse its prime broker and custodian, even though the SEC report was the first either had heard of the guy. Anyway, he’s probably going to spend some time in jail. Read more »

Yesterday afternoon, the Securities and Exchange Commission announced that it had frozen the assets of “purported” Boston-based quant named Andrey C. Hicks. Purported because, was he actually a quant? Not so much! Other small inaccuracies in his story with which the regulator took issue, describing the total as Hicks’ “brazen web of lies”: Read more »