Court case adds fuel to hedge-fund divorce
Sunday 10 July 2011
The messy divorce of hedge-fund tycoons Elena Ambrosiadou and Martin Coward has become even uglier following a series of alleged revelations in a legal case in Cyprus.
The couple ran IKOS Asset Management, making a £200m fortune in the process, but Mr Coward left the hedge fund in 2009 and they are now fighting around 60 legal battles.
IKOS, which used to be based in London but is now headquartered in Cyprus, uses hugely sophisticated technology to make its investments.
The Financial Mirror in Cyprus last week reported allegations against Vincent Pfister, a former IKOS employee, in Limassol district court. Mr Pfister was accused of downloading the hedge fund's vital code as part of Mr Coward's alleged plan to set up a rival business in Monaco called Flot SAM.
It is alleged that Mr Pfister broke an injunction that ordered him to hand over the data.
He has denied the allegation that he ever passed on any confidential information on IKOS to a third party. However, he did admit copying the files to a memory stick that was later returned to IKOS.
In the court proceedings, which are expected to wrap up next week, IKOS director Ian Mayes accused Mr Pfister of being "a clever and greedy man".
- 1 10 ways we damage our teeth – without realising
- 2 Fifa corruption arrests: Nike reported to be 'multinational sportswear company' at centre of bribery claims over Brazil shirt deal
- 3 Facebook Messenger sends 'creepily' precise location data, as revealed by Marauders Map Chrome extension
- 4 Bahar Mustafa: Goldsmiths Students' Union diversity officer to keep her job after vote of no confidence petition fails
- 5 Photo of wedding guest proposing to girlfriend in front of bride and groom goes viral
Hopes raised for treatment of severe amnesia after scientists retrieve lost memory – using light
Playboy model April Summers speaks out about being a victim of a voyeuristic sex crime
Poorest part of London is wealthier than the richest parts of Northern Ireland and Wales
British tourists complain that impoverished boat migrants are making holidays 'awkward' in Kos
How to live to be really old
EU referendum: David Cameron's rules are a 'democratic disgrace', says French-born Scottish politician set to be denied a vote
SNP fury as HS2 finds 'no business case' for taking fast train service to Scotland
Australian man punched in the face for defending Muslim women from abuse on train
A nation of inequality: How the UK is failing to feed its most vulnerable people
David Starkey 'tells Amal Clooney to shut up and stop over-promoting human rights'
EU referendum: David Cameron to deny EU migrants and under-18s the chance to vote
iJobs Money & Business
£30 - 35k: Guru Careers: We are seeking a Pricing Analyst to join a leading e-...
£20000 - £25000 per annum + OTE £45K YR1: SThree: At SThree, we like to be dif...
£20000 - £25000 per annum + competitive: SThree: Did you know? SThree is a mul...
£55 - 65k (DOE): Guru Careers: A unique opportunity for a permanent C# Develop...