(Bloomberg) Raffaele Costa’s two-month business relationship with an Asian real-estate tycoon has sparked a two-year fight in the London courts following claims that the hedge-fund manager exaggerated his supercomputer’s trading abilities. Costa’s Tyndaris Investments is suing Samathur Li Kin-kan for $3 million of unpaid fees for managing his money, according to court documents. Li’s investment company is counter-suing for $23 million claiming that Costa, a former founding partner at rival GLG Partners, overpromised what he could deliver with the technology used to make algorithm-driven trades, which lost money.
Captain Magic’ Clashes with Tycoon over $5 Billion Hedge Fund
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