Hedge Fund Man Accused of Lack of Interest Leaves $100 Million ATM Receipt

by hearit

A hedge fund manager is accused of poor returns: An ATM receipt shows a $100 million balance--for an account bearing just 1 percent interest annually. A Capital One bank customer left behind the evidence after paying the bank's $2.75 fee to withdraw $400 bucks in cash.

Dealbreaker notes the hedge fund manager could be garnering at least 3 percent in a Treasury account. Reportedly a Wall Street executive provided the ATM evidence that was left behind at a an East Hampton bank location in New York. The site accuses hedge-fund manager David Tepper, with Appaloosa Management, of low interest.

The funny part is the New York Post contacted the hedge fund manager, Tepper -- who dismissed the story with the claim that he's too sophisticated a man to leave so much cash in a low-yielding bank account.