Tags: banging the close, Daniel Shak, light market manipulation
Last year, Dan Shak, the hedge-fund-manager-turned-professional-poker-player, gave up on his effort to take 35% of his ex-wife’s $1 million footwear collection/stand-in for a neglectful lover. That $350K would have really come in handy today.
Shak has agreed to pony up $400,000 to settle charges that he manipulated some futures markets. And not for the time he dumped $850 million worth of gold contracts on the market just to see what happened, but for the unrelated two times he sold a ton of oil contracts in an (alleged!) bid to manipulate crude prices.
Without his share of the Louboutins, however, Shak’s settlement money will have to come from his poker winnings ($5.7 million and counting!), especially since he won’t be trading any regulated oil futures around here any time soon. Or ever. Read more »
Tags: Beth Shak, Daniel Shak, hedge fund managers, Lawsuits, love, tatoos, women's shoes
Back in June, hedge fund manager Daniel Shak sued his ex-wife, Beth, over assets he claimed she’d hid during the couple’s divorce. Said assets were Beth’s shoes, which Daniel alleged were kept in a “secret room” and were worth approximately $1 million, 35 percent of which he wanted. It was a bit unclear as to why he was going after the footwear collection three years after the two split (though using the proceeds to relaunch his fund was a possibility) but the heart wants what the heart wants. Anyway, today brings just a couple follow-ups on the Shaks, both of which are slightly more exciting for Beth than Dan. Read more »
Tags: "reached at a card table" is really one bad string of luck away from "reached at the dog track", Beth Shak, Christian Louboutin, Daniel Shak, hedge fund managers, possibly in a “secret room”, SHK Management, women's shoes
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.” Read more »