Update: A spokesperson for UBS said in a statement: “We do not comment on allegations in pending litigation other than we believe the claims against the firm to be without merit. Collins was terminated after she raised a complaint and the firm investigated the situation. We do not condone this sort of behavior.” _____________________________________________________________ Like […]
Daniel Shak is the founder of SHK Management, a hedge fund that reportedly “pulled the plug on its sole investment, spread trades on Comex gold futures,” last year. Daniel Shak is also the ex-husband of Beth Shak, who he divorced three years ago and is now suing for allegedly hiding assets in an attempt to cheat him out of settlement money. The assets in question? Twelve hundred pairs of designer shoes, which Shak claims his former wife “hid” from him in a “secret room.”
The way DS sees it, the footwear collection, which includes “Christian Louboutins and other high-end designer shoes” is worth approximately $1 million and he wants at least 35 percent. The way Beth Shak sees it, this is crazy (“I’m shaking my head over this whole thing,” she told reporters. “He is saying he didn’t know the closet in our master bedroom existed”) and she doesn’t understand why her ex is going after her shoes now. At this time there appear to be a few possible explanations:
a) Daniel is raising money to re-launch his fund (he told the Journal, after liquidating SHK in January 2011, that he’d be “trading again in a few weeks,” though it’s unclear if that happened).
b) He’s got gambling debts to repay (“A poker lover himself, he was reached at a card table yesterday but declined to comment”).
c) He and John Mack are going to sell them out of the back of a truck.
d) He just really appreciates women’s shoes.
He “picked her up in a Maserati and she said well maybe I can get used to this.” Let’s make this happen.