New York (HedgeCo.Net) – In an ironic turning of the tables, divorce lawyer Raoul Felder has lost $200,000 at the hands of a hedge fund, or so he says. <\/p>\n
According to the New York Times, the “Duke of Divorce,” is accusing AllianceBernstein of placing his money into a risky hedge fund in order to collect higher fees and commissions for the firm. <\/p>\n
According to Felder, he had given the investment firm simple instructions as to what to do with his $750,000. Instead, the firm placed the money into the riskier fund out of sheer “greed and self-interest.”<\/p>\n
“It’s like the owner of a restaurant who tells his waiters to push the chopped liver,” Felder said. <\/p>\n
The New York City-based AllianceBernstein manages over $590 billion of capital and is a subsidiary of French insurance company AXA. <\/p>\n
Julie Scuderi
Senior Editor for HedgeCo.Net
Email: julie@hedgeco.net<\/p>\n
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