We thought that a recent story about a drunk trader who enthusiastically moved the crude oil market while under the influence was one of the more bizarre stories we have heard on our due diligence travels.
However, just to prove that there is an exception to every rule, an investor recently sent us information on one Tara Bryson, erstwhile head of investor relations at New Stream Capital in Connecticut. According to Forbes, Ms. Bryson and her boyfriend had been engaged in running a "complex marijuana cultivation operation" from their home. While there was no public comment from Ms. Bryson, her boyfriend did helpfully note that the charges were "bogus", largely on the ground that "we didn't have that many plants"!
As a separate insight into the mind of a hedge fund fraudster, another investor (to whom we express our sincere thanks) provided a link to a recent 60 Minutes interview with Marc Drier. This is very interesting and, once more, illustrates how an initial fake transaction can grow and overwhelm the perpetrator.
Hedge Fund Operational Due Diligence.
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