The bizarre case of Florian Homm

Tue Oct 30, 2007

By Neil Wilson

As noted before in this column, the growth of the hedge fund industry in Europe has - hitherto - been remarkably scandal-free. This contrasts starkly with the United States, where there has been an ongoing series of blowups and frauds - with such egregious cases as Manhattan, Lipper, Lancer, Beacon Hill, Durus, Bayou and Wood River continually cropping up and keeping the media filled with bad news about hedge funds. But there has always been the risk that, as the industry in Europe grew, problems would sooner or later emerge there, too. And in recent weeks, with the remarkable goings-on at Absolute Capital Management, a hedge fund management company publicly listed on the Alternative Investment Market (AIM) in London, it looks uncomfortably like we have our first such scandal.

The recent extraordinary sequence of events arguably began with the abrupt resignation in September of Absolute...

ISSN: 2151-1845 / CDC10004H

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