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$1.5 Million Sent in Error to Money Manager (Both Are Missing)

From dealbook.nytimes.com

In the board game Monopoly, when the bank makes an error in your favor, the player gets to keep the money. A hedge fund manager is acting as if he has drawn that lucky card for real, a lawsuit against him contends. Credit Suisse says it wired a total of $1.5 million in three transactions to the hedge fund’s bank account on one day in January. Two weeks later, according to its lawsuit, the bank realized it had made a mistake: At the time of the wire transfers, the hedge fund, Galbraith Capital Investment Management, was winding down operations and it had no cash left in its account with Credit Suisse. The bank asked ... (full story)

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