Thierry Leyne, the French-Israeli financier who died last month in an apparent suicide in Tel Aviv, was in a dispute with a Swiss asset management firm that alleged that Leyne’s company had made unauthorized trades with its money, The Wall Street Journal reports.
- Strauss-Kahn's business partner dies in apparent suicide in Tel Aviv
- Firm linked to Strauss-Kahn and deceased partner is insolvent
In the suspected suicide on October 23, Leyne, 49, fell from a 23rd-floor apartment at Tel Aviv’s luxury Yoo Towers. He was the business partner of former International Monetary Fund chief Dominique Strauss-Kahn and CEO of Leyne Strauss-Kahn & Partners.
Strauss-Kahn had been seen as a presidential hopeful in France, but he stepped down from the IMF in 2011 after he was arrested on sexual assault charges in New York, which later were dropped. After receiving an engineering degree from the Technion in Haifa, Leyne made a career in private banking, management and investment.
“According to letters sent by Swiss hedge-fund firm Insch Capital Management to Luxembourg and Swiss financial regulators earlier this year and seen by The Wall Street Journal, an LSK [Leyne Strauss-Kahn] unit had used money in Insch’s bank account to buy shares in a small Swiss insurance company without Insch’s knowledge,” The Wall Street Journal reported.
“The accusation of unauthorized trading comes as LSK regroups following Mr. Leyne’s death. A person familiar with the matter said Wednesday that Mr. Strauss-Kahn has left his role as chairman of the firm, while trading in its shares was halted on Euronext after they fell sharply following news of Mr. Leyne’s death.”
Leyne had a stake just over 30% in Leyne Strauss-Kahn & Partners, according to The Journal, while Strauss-Kahn owns just over 20%.