News on Medial

Hedge fund manager faces arrest over $533 million taken from Byju's

Economic Times · 1y

A U.S. bankruptcy judge has ordered the arrest of William Cameron Morton, a hedge fund manager accused of helping Indian edtech startup Byju's hide $533 million from its lenders. Byju's Alpha, a subsidiary controlled by the lenders, filed for bankruptcy earlier this year after defaulting on $1.2 billion in debt. The lenders discovered that Byju's had sent the funds to Morton's hedge fund, Camshaft Capital. Morton failed to appear in court and provide evidence of hospitalization abroad, resulting in a warrant for his arrest and a $10,000 per day fine until compliance is achieved. Byju's lenders have sued Morton and Camshaft for the missing funds.