Porn Fund A Sham?

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Prepare to lose all faith in humanity, 'cause it just might be. The smut lifestyle connoisseurs at FINalternatives hear that Francis Koenig, founder of AdultVest Inc., which manages the porn hedge and private equity fund Priapus, may be screwing more the tasty treats who appear in the flicks he funds (and acts in, supposedly under the name Francis O'Bannon).

Sources close to AdultVest Inc...say that it is spending investor money on more than just investments, and that what investments there are don't account for the returns it claims. A former investor says that founder Francis Koenig is looting the fund to pay for fine art, expensive wines, cars, personal trips and alimony. Meanwhile, a former employee tells FINalternatives "there was no capital being generated" during his time at the firm.
"There is almost no money left in the fund," the investor, who said he was privy to some of AdultVest's financials via a court order, alleges. "Koenig has an American Express black card through the company that he uses on partying, girls and high living. Most money is missing and iPorn.com is not worth what he says it is."
"It just seems to me the whole time I was there that there was no capital being generated," says the former employee, who left the firm last year because he felt uncomfortable working in an office shrouded with mystery.

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