Date
25 September 2017
Kim Karapetyan speaks at a glitzy Blackfield party in Moscow in July 2013. Photo: Finparty.ru
Kim Karapetyan speaks at a glitzy Blackfield party in Moscow in July 2013. Photo: Finparty.ru

Russian hedge fund boss disappears

The 29-year-old founder of one of Moscow’s hottest hedge funds has gone missing, allegedly with all the firm’s assets, the Wall Street Journal reported.

Kim Karapetyan, chief executive of Blackfield Capital CJSC, had ambitious plans to expand to the United States, renting a Manhattan apartment in 2013 for a record-setting price and instructing his US staff to buy a US$300,000 sports car.

Then in mid-October last year, three men charged into Blackfield’s offices in an upscale complex in central Moscow, looking for Karapetyan, the report said. But he wasn’t to be found.

The next day, senior executives told the staff of about 50 there was no longer any money to pay their salaries.

They said all the money in the firm’s accounts — about US$20 million, including investors’ cash — was also missing.

Karapetyan hasn’t been accused of any wrongdoing, the newspaper said. It couldn’t ascertain whether the firm was still operating.

– Contact us at [email protected]

CG/FL

EJI Weekly Newsletter

Please click here to unsubscribe