Skip to comments.[race hustler] Hedge-fund manager, Obama donor embroiled in 9-figure lawsuit with LA pension funds
Posted on 07/31/2012 7:36:21 AM PDT by kevcol
Prominent hedge-fund manager and Obama donor Alphonse Buddy Fletcher is embroiled in a legal battle with three Louisiana-based pension funds seeking to recoup a $100 million investment with his firm.
Fletcher, who operates a series of hedge fundssome of which are based in the Cayman Islands and reportedly oversee as much as $500 million in assetscontributed at least $2,300 to Obamas campaign in 2008 and $50,000 to the presidents inauguration fund.
One of those hedge funds, Fletcher International Ltd., filed for bankruptcy protection on June 29, and recently sued some of its own Cayman Island-based affiliates in an effort to stop the court-ordered liquidation of its assets.
When the pension funds sought to withdraw their investment in 2011, Fletcher denied their request. The funds were given promissory notes, essentially IOUs, instead.
Fletcher has a history of filing racial discrimination lawsuits. In 1991, he sued his bosses at investment firm Kidder Peabody, claiming deficient compensation due to racial discrimination. Though Fletcher was ultimately awarded more than $1 million in the case, arbitrators found no evidence of discrimination.
Fletcher has also been on the receiving end of a number of sexual harassment lawsuits. In the mid-2000s, he settled two claims by former employees who accused Fletcher of making inappropriate sexual advances toward them.
(Excerpt) Read more at freebeacon.com ...
Bullshit...Bundling is no more than a front for money-laundering of made-up donor names, so the "Bundler" can infuse un-identified interest's money into a campaign, for future favors.
Unions are the BIGGEST money-launderer of them all, using Taxpayer money(via bailout funds to keep them employed and paying Dues).