When we last heard of Bruce McMahan, the president and CEO of the Argent funds, he was buying a watch that once belonged to Horatio Alger. Just another story of a hedge fund guy buying collectible art and artifacts. Kind of boring.
It turns out that there was a bit more to McMahan. Or less. McMahan married his 35-year-old daugher in 2004, according to a report in the Broward-Palm Beach New Times. The report says the fund manager initially seduced his daughter while showing her a video of Braveheart.
For more than a year, attorneys have been kept busy in Miami, New York, Mississippi, and San Diego with the fallout over the breakup of McMahan and Linda in five lawsuits involving not only father and daughter but also their legal spouses, as well as Linda's current boyfriend and soon-to-be father of her child. Details of McMahan and Linda's extraordinary wedding at Westminster Abbey and their years as lovers come from court documents as well as Linda's videotaped deposition, which New Times has made available on its website, browardpalmbeach.com.
In court papers, McMahan denies that he ever had a sexual affair with his daughter. But he doesn't explain how his and Linda's DNA turned up on a vibrator that Linda's husband uncovered in her luggage. McMahan also hints that Linda may not be his biological daughter, despite a DNA test he paid for showing with 99.7 percent probability that he is her father.
Ugh. More details are available in the full New Times story. Lots more. Disgusting details. Including court documents, wedding photos and videos. Too disgusting for us to summarize this early in the day. The media news and gossip website Gawker, however, picked up on one too-bizzare-to-be-true-but-true-nonetheless detail:
When Ewell made allegations in her divorce that McMahan had treated her cruelly, McMahan countersued and accused Ewell of engaging in affairs and "attempting to seduce mutual friends and associates," according to an appellate opinion in the case. Ewell tells New Times that one of those men was billionaire Jeffrey Epstein, who has been much in the news lately for allegedly hiring underaged women to strip topless and massage him at his Palm Beach mansion. At the time, in the early 1980s, McMahan and Epstein worked together at Bear Stearns in New York. Epstein didn't return a request for comment.
"Jeffrey Epstein worked with [McMahan]. He was, let's just say, in the divorce proceedings," she says. "I was asked to stop by Jeffrey's apartment to pick up some papers for Bruce. It didn't feel right, so I didn't even go in. I stood outside the door. And then, later, Jeff said I propositioned him. There were always allegations I was having to fight.
Emphasis obviously added. McMahan and Epstein worked together? Okay. We've got to ask. What the fuck were they putting in the water cooler at Bear Stearns?
The Argent funds manage around $3 billion in assets and operates our of offices in Connecticut (and four other US states), Bermuda, Dubai, Mumbai and London. Reports say the company has approximately 1,200 investors, mostly from outside the US.
Daddy's Girl: Fisher Island millionaire Bruce McMahan loved his daughter so much, he married her [Broward-Palm Beach New Times via Gawker]