Zwirn & Co

Zwirn & Co Tells Investors Of Inappropriate Expenses

Another example of genius in reverse at a hedge fund came to light this morning, as the New York Post reported that D.B. Zwirn & Co, a Manhattan based $5 billiion loan-trading hedge fund, had held conference calls with investors to discuss internal financial controls. Apparently, a former finance executive with the fund “inappropriately expensed ‘items’”—although the fund declined to say what the items—cough, strippers*, cough—in question were.
*Yeah. That’s completely without basis. But we can always hope, right?
Hedge Fund Loot Riddle [New York Post]