Reclusive billionaire Izzy Englander agreed to fork out $30 million of his own fortune yesterday as part of a monster settlement of fraud charges against his Wall Street hedge fund.
Englander, 57, who shuns public events and avoids being photographed, also will shell out more than $121 million in “ill-gotten revenues” from the coffers of his high-flying Millennium Partners fund.
The hermitlike moneyman is also banned from trading for three years – a much stiffer penalty for a man who raked in an estimated $200 million last year.
“It’s a lot of money,” said securities lawyer Jonathan Kord Lagemann. “It’s hard to tell whether it’s sufficient to deter.”
