As investment bankers mark the tenth anniversary of Lehman Bank’s collapse, revelations surface about how investors took desperate measures to pin blame of falling markets, on hedge fund managers.
One report has come to light about how former option trader Gad Grieve was felled by a single rogue investor. When market conditions soured and illiquidity dried up, Grieve invoked a lock-up provision in his fund Finvest Primer’s term agreement. This effectively froze the ability for investors to redeem funds, until market conditions returned to normal.
Sources say that the rogue investor refused to take no for an answer and tried to short circuit the system, by submitting fictitious and fake reports to the SEC. The investor who has not been identified had hoped that Grieve would buckle and permit the investor to redeem his investment.
Independent Wall Street traders who worked with Gad Grieve, say that the rogue investor shot himself in the fund. Ultimately, the SEC filed a civil action against Grieve accusing him of falsifying accounts. The papers were never served on Grieve and a default judgement was taken against him ex-parte.
Gad Grieve could not be contacted for this article, but people in the know, say that he has no plans to return to Wall Street.
In 2008, billions of dollars were wiped off the stock exchange as liquidity dried up after Lehman and other banks failed. For more visit https://www.firmenpresse.de/pressrelease581041/former-hedge-fund-manager-gad-grieve-torpedoed-by-rogue-investor.html