Long-time Capula Compliance Chief Refiles Whistleblower Lawsuit (Updated)

Update 3/9/2026 – Igor Abramov, former U.S. chief compliance officer at Capula Investment Management based in London, has refiled his whistleblower lawsuit in New York State court. This comes after his federal case was dismissed due to jurisdictional grounds.

The complaint was filed in March 2, 2026 under New York Labor Law Section 740, and it accuses Capula of a “pattern of intimidation” aimed at preventing Abramov from carrying out his regular duties as chief compliance officer. The case also alleges that the firm retaliated against him by firing him when he blew the whistle on some allegedly unsavory practices.

Those practices were said to include “certain undisclosed and improper expenses” that Capula allegedly charged to investors in the Capula Multi-Strategy Master Fund Limited. The lawsuit also accuses the firm of some “improper cross trading and capital allocations by Capula of the assets of the Capula Global Relative Value Fund, to the detriment of the GRV Fund investors.”

Other allegations include accusations of wrongful “test trades” that improperly risked investor assets in the MS fund. The lawsuit states that all of these practices violated federal law, including SEC regulations.

Previously:

Igor Abramov, former compliance chief at Capula Investment Management’s US division, has sued the hedge fund, alleging wrongful dismissal after he expressed concerns about some of the items the firm expensed to investors. According to Abramov, the $32 billion multi-strategy hedge fund expensed artwork, travel via private jet, and a number of other pass-through expenses without the correct disclosures.

Also see:  Einhorn’s Greenlight Wins Stipulated Injunction Against Ex-Analyst James Fishback

Lawsuit against Capula Investment Management

The lawsuit states that the former compliance head “engaged in protected activity by raising concerns about significant regulatory compliance issues,” which included a number of “undisclosed and improper expenses” that Capula allegedly charged to investors in its Multi-Strategy Master Fund Limited.