Hedge Fund Billionaire John Paulson Sued for Securities Fraud by Puerto Rico Partner
09/07/2023 08:05
John Paulson was sued by his longtime business partner in Puerto Rico, who alleges the hedge fund billionaire made fraudulent claims to convince him to invest $17 million in a luxury automobile dealership on the island.
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John Paulson was sued by his longtime business partner in Puerto Rico, who alleges the hedge fund billionaire made fraudulent claims to convince him to invest $17 million in a luxury automobile dealership on the island.
Fahad Ghaffar filed suit Wednesday in federal court in Puerto Rico, asking for more than $50 million in damages from Paulson. Ghaffar claims Paulson told him in February 2022 that he would be investing his money in a convertible note that would eventually give him 50% ownership in the dealership, F40, which a Paulson family trust had just bought for $103 million.
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Hedge Fund Billionaire John Paulson Sued for Securities Fraud by Puerto Rico Partner