Wed, Oct 1, 2025
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Alternative Market Briefing

High-profile fraud dispute hits alternative investment firm

Monday, June 02, 2025

Matthias Knab, Opalesque:

Former Tennis Champion Coco Vandeweghe Sues AC Investment Management for $1 Million+ in Missing Funds In a developing legal dispute that underscores the risks athletes and private clients face in trusting financial managers, professional tennis star Coco Vandeweghe has filed a lawsuit against AC Investment Management LLC (d/b/a Aurelian Capital Investment Management), seeking recovery of at least $992,066.34 in allegedly misappropriated funds. Vandeweghe, a two-time Grand Slam champion and former U.S. Fed Cup team member, entrusted her professional earnings to the late Ernest Scalamandre, who managed her assets through a Florida LLC called Vandeweghe Management ("VM"). Scalamandre, also the principal of ACIM, managed VM's funds and allegedly integrated the firm into all aspects of her financial life - from tax reporting to investment decisions. Key Allegations:

• ACIM maintained full control over Vandeweghe's finances and accounts, including opening bank and investment accounts in VM's name. • ACIM's internal records show a line item "Due from Investments" of $992,066.34 that has not been returned or explained despite repeated demands. • Vandeweghe was led to believe she was a part-owner in various private ventures - including a Long Island farm, a boat company, and a house in Indian Wells - with no formal documentation or clarity ......................

To view our full article Click here

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Global fintech investment slumps to seven-year low of $95.6bn[more]

    Laxman Pai, Opalesque Asia: Global fintech investment plummeted to $95.6 billion across 4,639 deals in 2024, marking its lowest level since 2017, as investors grappled with persistent macroeconomic challenges and geopolitical tensions, revealed a study. According to the Pulse of Fintech H2'

  2. Opalesque Exclusive: Private capital deal value climbed 19% in 2024[more]

    Bailey McCann, Opalesque New York: Private capital deal value climbed 19% in 2024, according to the latest data from the Global Private Capital Association. Growth was driven by big-ticket investments across Southeast Asia, Latin America and Central & Eastern Europe (CEE). Investor confidence

  3. Opalesque Roundup: Citco: 77% of hedge funds achieved positive returns in January 2025: hedge fund news[more]

    In the week ending February 21st, 2025, a report revealed that hedge funds enjoyed one of their best opening months this decade in January, as Equity and Multi-Strategy funds posted strong returns. Funds administered by the Citco group of companies (Citco) delivered a weighted average return of 4%,

  4. Opalesque exclusive: Permuto's new equity unbundling product to change investment model[more]

    Opalesque Geneva for New Managers: Here is a different way of owning stocks coming to you soon: the option of holding just the dividend portion of a stock, independent of its price movements. Or capturing the stock&

  5. Opalesque Exclusive: Hedge funds outperform mutual funds in managing extreme risk contagion - key insights for investors[more]

    Matthias Knab, Opalesque for New Managers: Hedge funds and mutual funds are among the most prominent vehicles for investors seeking growth and diversification. However, a critical question persists: which fund ty