Josh Raffaelli, who has deep roots as a Silicon Valley investor and has backed plenty of Elon Musk corporations, is suing his former employer, the large trillion-dollar AUM Brookfield Asset Administration, studies The New York Instances.
A lot of Raffaelli’s criticism issues how Brookfield coated pandemic-related actual property losses and alleges the corporate fired him after he filed a whistleblower criticism on the SEC. His swimsuit makes allegations like fraud and bribery, whereas Brookfield vehemently denies any wrongdoing, it instructed The Instances.
In February, Brookfield quietly shuttered the enterprise capital unit run by Raffaelli and rolled some property into one other unit, Bloomberg reported on the time. One in all Raffaelli’s complaints within the swimsuit is that Brookfield didn’t purchase as a lot inventory in Musk-owned corporations as he had secured the power to purchase.
Raffaelli had offers to purchase into Musk corporations like SpaceX, xAI, and the Boring Firm, the swimsuit alleges. And his Brookfield fund was a giant backer of Musk’s takeover of Twitter, Bloomberg reported.
The lawsuit is a really public battle for Raffaelli, who beforehand labored as a accomplice on the VC agency then referred to as Draper Fisher Jurvetson. (Right this moment, it’s a group of funds.) Whereas at DFJ, Brookfield helped that agency make investments into Musk corporations like SolarCity (acquired by Tesla), SpaceX, and Tesla.
