News > Lifestyle, 4:01

Hedgie loses discrimination suit

By NexChange
Lifestyle, 4:01

Hedge funder Alphonse "Buddy" Fletcher has lost his four year discrimination battle against a New York City co-op.

In 2011 Fletcher accused The Dakota, made infamous as the location of John Lennon's murder, of racial discrimination, reports the New York Post. Fletcher is a longtime Dakota resident, but wished to purchase a fifth apartment in the building. The co-op says it turned down Fletcher because of his deteriorating financial situation, but Fletcher, who is black, called foul. A Manhattan judge sided with the board, throwing out the case.

It's been a rough year for Fletcher. The hedge funder's firm, Fletcher International, is bankrupt, after a court-appointed trustee accused it of being a Ponzi scheme.

Fletcher's wife, Ellen Pao, has had her own legal battles. Pao lost a sex discrimination case against her former employer, venture capital firm Kleiner Perkins, earlier this year, and just recently announced that she wouldn't be appealing the decision due to lack of resources.
Photo: Alejandro Lavin, Jr.
 

Subscribe to our Newsletter

Be one of the first to experience the future of financial services