Louis Bacon hedge fund

Hedge investment billionaire Louis Bacon features submitted a $50 million defamation match in ny against their Bahamas holiday house neighbor–Canadian fashion magnate Peter Nygard.

Inside issue, Bacon alleges that Nygard has actually waged an "obsessive and harmful" smear promotion against him since mid-2010.

Based on the problem, Bacon alleges that Nygard distribute "brazen lies" that he:

• murdered numerous individuals who died under suspicious conditions, then covered up those murders from law enforcement;
• He could be a white supremacist and a member associated with Ku Klux Klan ("KKK"), determined to exclude indigenous Bahamians from Clifton Bay;
• He had been recharged by prosecutors and "accused of criminal conspiracy" in a "billion dollar fraud" that is in "one associated with biggest Wall Street insider trading instances ever, " discussing the insider trading arrest of Rajat Gupta;
• He smuggled narcotics and fugitives;
• He possessed terrorist weaponry (including illegal speakers) that pose a national safety hazard into Bahamas;
• He committed arson of Nygard's residence; and
• He's got bribed Bahamian officials.

Bacon categorically denied all of those statements and stated they certainly were untrue, the problem stated.

Bacon in addition alleged that Nygard along with his co-conspirators spread lies about him via net video clips and social media marketing. He also alleged that Nygard organized a protest in July 2014 in which some Bahamians marched in Nassau using tees and holding posters accusing him to be inside KKK.

Bacon said within the complaint that Nygard "harbors spite, ill will, and animus" toward him and that he previously "evil and sinister motivations" for publishing the statements.

Nygard's mansion on Lyford Cay Bacon additionally stated that the statements allegedly produced by Nygard have damaged their "professional, philanthropic and private reputations." He in addition stated he has got experienced damages like solicitors' costs and investigator fees.

"The allegations in Louis Bacon's most recent lawsuit are totally without merit and will also be proven anytime they ever before get to test. The assertion that Mr. Bacon has been defamed is certainly not supportable, " a spokesperson for Nygard stated in a statement to Business Insider.

The two tycoons, just who possess adjacent mansions from the exclusive Lyford Cay, happen notoriously feuding for a long time.

Nygard could be the creator of Nygard International, which focuses primarily on designing and manufacturing ladies' fashion. The style magnate has a 150, 000-square-foot Mayan-themed mansion on Lyford Cay.