Soured Hedge Fund Deal At Center Of Bizarre Fraud Case

By FINalternatives

A Westchester County, N.Y., man accused of defrauding an oil heir of $20 million claims that the millionaire is seeking revenge for a hedge fund deal gone wrong.

According to Vickram Bedi and his lawyer, Roger Davidson, through a private investigator, began to threaten Bedi after Davidson lost $12.4 million on the hedge fund. What’s more, Bedi’s lawyers say, Davidson is bribing witnesses, including Bedi’s ex-girlfriend, who has pleaded guilty in the case.

Prosecutors paint a somewhat different story, saying that Bedi and his ex, Helga Ingvarsdottir, spent six years convincing Davidson that his computer had been hacked from a remote village in Honduras, and that they could protect him. Davidson signed a security contract with the two worth $10.9 million—$160,000 per month.

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