Firm charges PayPal founder, hedge fund with fraud

Pay "Pal"? I think not! Firm charges PayPal founder, hedge fund with fraud.

PayPal founder Peter A. Thiel and his hedge-fund management company, Clarium Capital Management, are accused of fraud in a lawsuit filed Monday.

The suit, filed in U.S. District Court for the Northern District of California by Amisil Holdings Ltd., names Thiel and Clarium as defendants, along with Clarium officers Jason Portnoy and Mark Woolway.

Amisil, a risk capital investor, seeks to recover the value of its investment in Clarium, which it said is worth as much as $18 million.

The suit claims that although Clarium received large sums from the 2002 PayPal initial public offering and its subsequent sale to eBay Inc., Amisil received no return on its Clarium investment from the transactions.

Clarium General Counsel Bruce Gibney said in a statement that Clarium believes Amisil's claims are based on numerous misstatements of fact and have no merit.

PayPal is a San Jose, Calif.-based online payment processing company.

 

Sed est ut quo quia quam quam. Et sit asperiores sint. Atque enim praesentium minima occaecati. Suscipit maxime nostrum magnam necessitatibus. Qui omnis labore consequuntur molestiae autem voluptate. Numquam at asperiores ea. Aspernatur culpa minus eum.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”