When people in New York hear or read stories about financial professionals being accused of illegally or unethically obtaining or using company funds, they may automatically assume the person is guilty or has little to no option to defend themselves. That is certainly untrue as the justice and legal system is set up to allow all defendants the right to prove their innocence. Sometimes, charges can come to be dropped in what may seem to some by unusual circumstances.
A recent case involving a former hedge fund chief financial officer provides a good example of this. According to the Institutional Investor, the woman was hired in 2016 and reported directly to the chief executive officer. The company eventually initiated a claim against her alleging that she stole nearly $15,000 from the company via checks written to herself.
Another part of the allegations was the supposed personal use of a company credit card. The case against the woman is also said to have involved the alleged deletion of company data and sharing of proprietary information via personal communications.
Despite reports saying that evidence existed to support these claims, the case has been withdrawn as has a case that the woman filed against the company in which she asserted that she had been sexually assaulted by the CEO. It is said that the assault took place on multiple occasions over a period of time and at one point she even had audio recordings to support her position which she later deleted. No compensation was said to be given to the woman regarding this lawsuit.