Spy Versus Hedge Fund:Liar! Liar! Pants on Fire!

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It's good to know that something things never change. New York Post reporter Roddy Boyd still has some of the best stuff on the business beat. This morning's New York Post carries his report on Allied Capital's admission that its investigators illegally obtained the phone records of Greenlight Capital hedge fund manager and long-time Allied critic David Einhorn. And that's another thing that doesn't seem to change—embarrassing revelations of pretexting are here to stay.
This is all the more embarrassing because Allied has spent the better part of six years denying it was engaged in pretexting against its enemies.

Allied made the admission when it began to review documents in order to comply with a subpoena it received from federal prosecutors in the District of Columbia. It refused to comment beyond the admission, and said it was complying with all requests.
In a statement, Einhorn said, "The evidence [for pretexting] was clearly always there; [Allied's] board simply neglected its fiduciary responsibility to supervise the company appropriately. We repeat our call to the board to remove responsible management. We hope that the authorities prosecute this illegal activity vigorously."


Allied Admits to Spy Job
[New York Post]

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