A New York hedge fund is suing the wife of its boss for $25 million, accusing her of hiring a firm to hack into a computer at their house and copy files, including "proprietary algorithms and investment strategies".
According to Forbes, citing court papers, David Simon instructed his Twin Capital Management to take legal action against his wife and lawyers representing her in their divorce.
The complaint claims Simon's wife Linda asked a forensic technology company to hack a password-protected computer belonging to the company but located at the couple's home, shortly after he vacated the residence and she began divorce proceedings.
"Highly confidential financial records, intellectual property, trade secrets, and attorney-client communications were unlawfully stolen," says a court document filed by Twin Capital Management, according to Forbes.
The computer was monitored by Alphaserve Technologies, revealing that it was turned on and off on 3 August, a day when Simon did not have access to it. Twin Capital claims that Linda Simon has admitted hiring the forensic firm after listening to advice from her lawyer.
Twin Capital is suing for $25 million and the return of all the materials copied from the computer. Simon has also reported criminal conduct to local police.
New York Hedge Fund Manager Claims His Wife Hacked His Computer And Stole Trading Secrets - Forbes