Marc Mezvinsky, Chelsea Clinton’s husband, is refusing to apologize to investors after losing nearly $25 million of their money in a hedge fund hoping to profit from the turmoil in Greece.
Many of the investors in Mezvinsky’s fund, Eaglevale, are donors to his wife’s parents. “I gave them money because I thought they would make me money,” financier Marc Lasry told The New York Times last year.
Eaglevale set up a “Hellenic Opportunity Fund,” as Mezvinksy and his partners envisioned Greece being on the path to a “sustainable recovery.” The Greece investment fund collected $25 million by the end of 2014, at the same time when it stopped taking donations as it became clear the Mediterranean country was not on the rebound.
By early 2015 the fund had lost 40 percent of its value and 90 percent of its value up until it closed last month. When The Daily Mail asked Mezvinksy Thursday if he will apologize to investors he refused.
Mezvinsky’s father was convicted in 2001 for his involvement in a multi-million dollar Ponzi scheme.