The curse of the award strikes again! Arpad "Arki" Busson's EIM Group managed to lose $230m when Bernard Madoff allegedly made off with $50bn of investors money, but (as so often) the warning signs were around for everybody to see.
Busson scooped one of those lifetime achievement gongs (kiss of death award?) from Hedge Fund Review magazine only two weeks before the "fraud" hit the headlines, when the rag was typically gushing in its appraisal of their star guest. In its piece on the awards, HFR describes Busson as being "widely recognised as having exceptional knowledge of the hedge fund industry" which has meant he has been "invited to serve as an industry expert on a number of panels" for French, Swiss, German and, er, US regulatory bodies. Oh well. It could happen to anybody, I suppose.