Why Ex-Trader At Amaranth Is Crying Foul
Mr. Hunter said Solengo Capital Advisors has been pushed to “the brink of complete disintegration” by a probe by the Federal Energy Regulatory Commission and resulting civil charges against him and his previous employer, Amaranth. The statement was made in documents filed late last week in the federal District of Columbia court as part of a suit against FERC that Mr. Hunter filed in late July.
. . . In the latest court documents, Mr. Hunter said investor support for his fledgling “commodity investment vehicle” is falling flat because of FERC’s case. “The willingness of potential investors to commit capital to these funds is dependent upon Solengo and its principals continuing to maintain an unblemished regulatory record,” he said in the latest court filing.
Mr. Hunter has a 60% stake in Solengo and has invested around $1.7 million to fund the start-up of the business. Upon learning of the civil charges, two of Solengo’s principal directors resigned and Mr. Hunter said he was having great difficulty finding traders willing to join his team, according to the documents.
Karma is a bitch, eh?