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PayPal co-founder Has Fraud Lawsuit Filed Against Him
PayPal co-founder Peter A. Thiel and his hedge-fund management company, Clarium Capital Management, are accused of fraud in a lawsuit filed Monday.The suit, filed in U.S. District Court for the Northern District of California by Amisil Holdings Ltd., names Thiel and Clarium as defendants, along with Clarium officers Jason Portnoy and Mark Woolway.Amisil, a risk capital investor, seeks to recover the value of its investment in Clarium, which it said is worth as much as $18 million.The suit claims that although Clarium received large sums from the 2002 PayPal initial public offering and its subsequent sale to eBay Inc., Amisil received no return on its Clarium investment from the transactions.
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