Hedge Fund Executive’s “Assistant” Accused of Stealing HF Manager’s Credit Cards for Personal Purchases
According to a recent article in the New York Post, famous hedge fund manager Todd Meister has accused his personal assistant, Russia native, Renata Shamrakova of opening up credit cards in his name and charging almost $1 million to it within a ten month period. Questions are being raised as to whether or not Shamrakova had a romantic relationship with Meister. If she is found guilty, Shamrakova could serve up to a year in prison for her felony offense. Shamrakova is also charged with tampering and obstruction of evidence.
Defense lawyer, Marc Agnifilo, believes that Meister allowed her to use the credit cards to purchase endless amounts of jewelry, clothes and trips. 
Meister, who is known for his partying and fleeting marriage to Paris Hilton’s sister Nicky, denies participating in any romantic relationship with Shamrakova. The prosecution claims that Shamrakova sold a large amount of the jewelry that was purchased with Meister’s credit card on her business website.
Whether or not Meister and Shamakova were lovers, the situation highlights the importance of evaluating and monitoring reputational risk during the operational due diligence process. By performing operational due diligence, you can dive deeper on issues such as this that may affect the operational and reputational components of a fund.
Meister is a Harvard graduate who used to manage $2 billion in assets at his hedge fund, Priderock.
Shamrakova is being held on $450,000 bail.
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Corgentum Consulting releases their February Edition of Due Diligence News
Corgentum Consulting has released their February issue of Due Diligence News. Due Diligence News covers the most recent articles on hedge fund operational due diligence, fraud and insider trading.
It also includes industry events and links to hedge fund operational due diligence blogs. Due Diligence News is where you can go for the latest in operational due diligence.
Sign up to receive Due Diligence News as well as Corgentum’s newsletter Due Diligence Insights.
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Corgentum Consulting to Moderate Real Estate Private Equity Panel at Miami Conference
Corgentum’s Jason Scharfman will moderate the Real Estate Private Equity panel at Opal’s Real Estate Investors Summit in Miami, Florida. The conference will be from April 25-27th.
Scharfman’s panel, Real Estate Private Equity, will cover the importance of operational due diligence for real estate and private equity funds. It will also tie into his upcoming book, Private Equity Operational Due Diligence.
This panel will also cover aspects of due diligence related to hedge funds investing as well. To sign up for the conference, click here
Also, look for updates on Jason Scharfman’s book release on April 10th.
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