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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
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