A prominent New York hedge fund investor was charged with drunk driving, speeding and cocaine possession on Aug. 13. The 35-year-old man was arrested after he was involved in a two-car accident in the Hamptons at 3 a.m. Because the man refused to take a breath test after the accident, authorities in East Hampton suspended his driver’s license.
The car accident that led to the DWI charges occurred while the accused man was traveling on Montauk Highway in Amangansett in a 2015 BMW convertible. The man collided with a woman who was driving a Ford SUV in the opposite direction. Police say that both of the drivers claimed that the other driver had failed to stay in their lane before the crash.
After he was booked for his charges, the accused man was released on $1,000 bail. The man is the founder and chief investment officer of Kerrisdale Capital, and he is well known for short research activism as well as his past work with Deutsche Bank and Longacre Management. His hedge fund is currently valued at $250 million. So far, there has been no public comment from Kerrisdale Capital about the DWI and cocaine charges.
After a car accident, police often ask the drivers that were involved in the accident to submit to breath tests. When drivers refuse a breath test, authorities may suspend their driver’s license and charge them for DWI. A driver that has had their driver’s license suspended is not necessarily guilty of drunk driving, and a criminal defense attorney may be able to help a driver in this situation to argue that there was a valid reason for refusing a breath test.
Source: CNBC, “Hedge-funder in hot water: Sahm Adrangi arrested on DUI, cocaine charges in Hamptons,” Dan Mangan, Aug. 15, 2016
