Fortune asks is it chutzpah, a breach of contract or both? Former
"placement agent" Al Villalobos yesterday sued Apollo Global
Management (APO) in a Nevada bankruptcy court, alleging that the firm had
improperly withheld payments related to his capital-raising work on behalf of
the firm. The complaint also includes the transcript of a recent deposition of
Apollo founder Leon Black, which (finally) shines a bit more light on Apollo's
thinking during the years in which it used Villalobos.
For the uninitiated, Villalobos has been accused of fraud by
both The Securities & Exchange Commission and The U.S. Department of
Justice, who allege that he and former CalPERS CEO Fred Buenrostro forged
disclosure documents…..
Find out more at http://finance.fortune.cnn.com/2013/04/17/apollo-sued-by-ex-placement-agent/?iid=SF_F_River
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