A longtime investor in Clarium Capital Management filed suit in U.S. District Court for the Northern District of California Monday claiming that the San Francisco-based hedge fund management company headed by PayPal founder Peter A. Thiel has been defrauding it for nearly a decade. The plaintiff, Amisil Holdings, Ltd., a risk capital investor, named Clarium and Thiel as defendants in the action. Amisil seeks recovery of as much as $18 million.
According to Amit Choudhury, Amisil’s Senior Vice President, “Peter Thiel has been playing an elaborate shell game with our investment for the last eight years. Amisil has not received a single distribution from Clarium, while he has skimmed tens of millions of dollars out of Clarium into his own pockets. There’s been no pay for us, and he’s been no pal.”