Guy Albert de Chimay, the hedge fund manager who appeared on the first season of Wall Street Warriors telling the world “Wall Street takes the brightest people and smashes them into the pavement on a regular basis” and “Wall Street guys have really made the Hamptons what it is,” pleaded guilty today to grand larceny in the first degree, a scheme to defraud in the first degree, securities fraud and forgery in the second degree. GdC had been accused of using clients’ funds to put towards his divorce bill and beach house, in addition to claiming that using alleged ties to the Chimay Brewery in Belgium as a pitch in reeling in new clients (GdC said he managed money for the royal family).
“We’re a family, a small family,” Guy said last summer. “There are birth certificates, marriage certificates; they don’t lie,” he argued during a jailhouse interview. Unfortunately, the whole thing started to unravel when the financial crisis went down and today the former Warrior, still swearing to be a descendant of Belgian Trappist monks admitted, "I did not have the intention or ability to return the investors' money."
This was the delightful statement by his lawyer: "Mr. de Chimay realizes the collapse of the financial markets does not excuse his actions, but it explains it. He's always been a hard-working guy and he's going to work hard and make whole the half dozen or so victims of this sad episode."