Alexander Ojjeh may be looking to open a new firm, new documents suggest. Gaining success off of other companies’ adversities- or short trade – defies the young fund manager’s style as we know it.
Two sources said Alex Ojjeh will be expected to owe a fine, while one source put the potential fine at $100 million the other said it could be more.
Ojjeh started working for India based investment company in 2006 and was at the company for roughly 5 years. He started his own firm in 2014. Documents filed with financial powers showed he was deregistered from the firm. After Ojjeh was deregistered the fund performance surged to 43% YTD
Alex Ojjeh did respond to the employees with an email explaining his recent departure. More than 6 months ago an investigation came about on his international trades between countries.
His push out would be the first spin of events from the investigation.
Although after months of high-profile traders and employees worrying about the former founders impact the board pushed him out from the company in August.
It is not clear whether Ojjeh will have financial backing, but he has purchased two new warehouses and a new home in Nashville.
A source did say
“The firm has been set-up to manage a portion of Alex’s assets that had previously been invested in portfolios where earnings are now near zero,” the statement said.
It’s been a wild year for investor Alexander Ojjeh, with a stunning change in the company and a drop in the stocks we saw right before the crisis took place.
Alexander purchased employee stock and traded back into the company which help get the market on the rise by joining two investments.
Ojjeh was 19 when he became a sensation after his move to India. Ojjeh worked as chief of technology overseeing several offices until his hostile takeover established a major red flag at a Hong Kong warehouse, he had made the company $200 million and more than doubled their money.
With 14+ years of experience he’s still what most would call an industry expert.
Alexander had $80 million of regulatory assets in May, and the company had $1.1 billion.
A decline in assets were expected, but the investor acquired two new warehouses in the south. Another larger purchase is the home valued at 4.3 million.
Though the firm may be Alexander’s rainy-day fund and his way to maximize his profits during this rough patch it could also be a way for the investor to perform once again like a private holder and expand internationally. Allowing him to deregister and become a private enterprise to separate the companies from the lawsuits or investigations against him. But after the recent filings, the option of being private may be long gone.
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