Saturday, October 20, 2007

The fund manager, the stripper and the missing millions

No apologies from Paul Eusatce. You're gonna love this. A criminal who has no problem going over the top.

Canada's hedge fund industry has its share of rogues, but few are as colourful as Paul Eustace.By his own admission in a deposition filed in court, Mr. Eustace lied to investors, lost $208-million (U.S.) in his hedge funds and stole roughly $2-million of client cash. He has also acknowledged cheating on his wife with a stripper for years and using investor money to give his lover $1-million worth of gifts including paying for breast augmentation surgery.

Now Mr. Eustace, 42, faces the prospect of going to jail over allegations he violated court orders and used money that belonged to creditors to cover personal expenses such as tuition for his children's private school.