The most fascinating hedge-fund hire of 2024 wasn't a star trader or C-suite executive
- today, 12:00 PM
- businessinsider.com
- 0
David Packouz is a former arms trader. In 2005, he joined the arms dealer Efraim Diveroli at AEY, bidding on contracts for the US military. In 2007, AEY won a $300 million contract to supply munitions to Afghanistan. Packouz was part of a cover-up to disguise the true identity of the ammunition, concealing that it was of Chinese origin.
After an investigation by The New York Times, he was charged with 71 counts of fraud and faced 355 years in prison. He was sentenced to seven months of house arrest and issued with a 15-year arms-dealing ban. His story was the subject of the 2016 movie "War Dogs" and Guy Lawson's book "Arms and the Dudes."
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