Finding The Real Gad Grieve - The Last Coffee
by Phillip Fleck Anand Systems Inc Launches, Asi Frontdesk, The NewJERUSALEM, (November 15, 2018) - I first met Gad
Grieve a few years ago. It was during a jog along the banks of the
Yarkon river in Tel Aviv. We were introduced by a mutual acquaintance. In the
background ducks quacked and rowers from a local boating club pulled on their
oars. The setting was spectacular. It could have been Central Park, a fitting
meeting place given Gad Grieve’s experiences and
impressionable relationship with New York.
From
about 2003 to 2008, Gad managed a hedge fund based in New York. It was during
the hedge fund hey day of the century, when every practitioner was trying to set
up his own fund. Friends and brokers soon noticed Gad’s skill as a trader and
in selecting stocks. His specialty became equity options which he initially
used to tweak his portfolio and later to capitalize on a niche strategy. The
market rocked, Wall Street turned the lights on and investment banks were
popping champagne corks and throwing streamers. Gad’s fund, Finvest Primer
prospered. It seemed like nothing could go wrong. Then came the sub prime
housing crisis, Bear Sterns and Lehman. Many others followed. It didn’t just
rain. It poured. Billions of dollars were wiped off the New York Stock Exchange
Board. No one was impervious to the market’s strong fisted blow. The last straw
which broke the camel’s back was Madoff. The SEC became a target at which blame
was leveled. It was accused of missing clear signals of a Ponzi scheme which
shook the world. The SEC responded with widespread investigations and subpoenas
against fund managers, eager to prove its salt to Wall Street. Traders on Wall
Street argue that Gad
Grieve was a victim
of SEC overreach.
I’m sitting at a corner cafe in Jerusalem with Gad. We’re sipping Americanos. I banter in friendly jest with a waitress.
Gad’s wealth was obliterated during the crash. He has a few ideas about
what he will do next, but it will not be managing investments. Word on the
street has it that Gad
was torpedoed by a rogue investor. When liquidity in the market dried
up and Gad froze redemptions on his fund, a rogue investor misled
the SEC by supplying it with fabricated
and false information .
Civil filings and
ex-parte judgements against Gad followed. The investor’s motive? The hope that
pressure from regulators would force Ga
allowing
investors to redeem their funds early. Legal experts suggest that the SEC court
filing against Gad is not actionable. The judgement was ex-parte and Gad was
never legally served. Some US attorneys argue that the New York court did not
have jurisdiction.
Gad refuses to comment, verify or deny anything to do with his time on Wall Street. It’s hard to get him to say a bad word about anyone. A former analyst at Gad’s firm described him as “tough but fair.” That depiction seems about right for this former Navy diver who scrummaged his way to success as a prop forward on some of Africa’s well known rugby fields. I was also surprised to learn that he represented South Africa for rugby in the Macabbi Games and was a frequent participant in triathlons. Gad comes across as a team player, the sort of guy I’d like on my side, the friend with whom I’d share a celebration and shoot a few whiskies, the dude who I can pour my heart out after a break up with a sweetheart. He’s the guy who I know will answer my call at 3:00 AM and bail me out from a poker game, when I’ve lost my socks.
I
prod and I sense a few soft spots. He is not new to dealing with adversity. Gad
lost his father at a young age. A marriage which ended in divorce is another
memory which he probably adds to the list. Friends say that his marriage
to Elizabeth Tamerin from New York was a fairytale relationship. It
ended amicably in mysterious circumstances, with Gad being awarded full custody
of his child. No one is talking or they just don’t know. A few years later he
was on a short stay with his five year old son in New York. A habeas corpus was
served on Gad and his son removed from his custody. His ex-wife had arrived in
New York from Israel and filed a custody case against him. The community was
shocked, especially as negotiations were at an advanced stage, to change Gad’s
sole custody status to joint. The judge who was responsible for issuing the
habeas corpus against Gad, was none other than the infamous Judge
Gerald Garson. Garson was indicted and found guilty of bribery and
corruption, for running a scheme where paying litigants could achieve favorable
court decisions. Friends say that Gad’s ex-wife was not involved in the plot to
remove custody from him. Seemingly, both she and Gad were victims of medlars
who wished to control the situation. Agudath Israel and internationally
acclaimed attorney Nat
Lewin tried to help, albeit unsuccessfully. Again Gad is tight lipped.
Its easier to pull teeth.
Of
all the things that people from his previous life remember him the most, it is
the hospitality he displayed where literally hundreds passed through his home.
Gad’s abode, modest by New York standards, was open to all in the good years.
He wasn’t a giant when it came to charity or in the same category as some of
the big hitters. However his close friends say that he was selfless with his
generosity and lived for others. Few non-profits weren’t touched by his
magnanimous handouts, mainly directed towards Jewish causes.
Clearly,
he was passionate about those initiatives in which he believed. This is a man
who can achieve much. Of course all that ended with the crash of 2008. Gad’s
efforts to make a comeback were crushed, when a former partner and a rogue
investor filed a bankruptcy procedure against him in Israel in about 2009. The
procedure was later
dismissed.
Reports suggest that the same rogue investor who was responsible for misleading
the SEC with fabricated
reports about Gad, is still looking for his KO strike against the man
in Israel. Evidently, continued litigation in Israel has hampered Gad’s efforts
to pursue new projects. He is playing his cards close to his chest and not saying
much. I’m incognito, so if I push too hard I will spill the beans.
A
serious relationship or marriage for Gad remains on the back burner. Female
demand for his attention is not lacking, but seemingly his head for a serious
relationship is elsewhere.
I
know that this will probably be my last coffee with Gad. He makes deliberate
attempts to avoid interview requests or publicity. Publication of this article
will be seen as a breech of loyalty, even if it’s just as a friend. I’m hoping
he’ll look beyond and understand that the truth needs to be told. For most
writers that inclination is in our blood.
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Created on Nov 15th 2018 00:23. Viewed 436 times.