Fired Employee Says Hedge Fund Billionaire Elena Ambrosiadou Hired A Woman To Spy On Him


A former employee is accusing Ikos co-founder Elena Ambrosiadou of allegedly hiring a woman to spy on him.

The Sunday Telegraph has seen court papers filed by employee that detail what allegedly happened –

  • Ambrosiadou hired a Dutch spy, Laura Merts, to befriend the employee and his family in November 2008
  • Merts was trained in “unarmed combat” and “counter-terrorism”
  • Merts called herself “Laura Maria Van Egmond” and moved into a flat in the upmarket seafront apartment block in Limassol, Cyprus, where the employee lived with his wife
  • Merts “went out of her way” to befriend the couple and quickly became a trusted family friend, spending Christmas with them and often looking after their young son

The employee accusing Ambrosiadou of spying on him, Tobin “Sam” Gover, is one of the 12 employees that Ambrosiadou mysteriously fired in December 2008. Ambrosiadou is said to have fired the 12 while her husband was skiing. Ever since the firing, the fund has had to deal with various scandals.

The first was Ambrosiadou’s public divorce from Martin Coward, Ikos’ co-founder.

Then there was a fight over Coward’s using a jet.

Then another one of the people fired, Peter Ho, a longtime senior Ikos manager, filed court papers against Ambrosiadou last year. He claims that he was fired unfairly because “of increased and unbearable tension between her and Martin Coward,” says the WSJ.

The resolution of latest scandal, according to Sunday Telegraph, is this: The High Court gave a default judgment in Mr Gover’s favour and Ambrosiadou agreed to pay “substantial” damages.

“These matters are the subject of ongoing litigation which are being vigorously defended by Ikos,” says a spokesman. “Ikos is engaged in a number of ongoing legal actions related to unlawful acts by former employees including Mr Coward and will undertake any appropriate legal actions to protect its business.”

Last year, Ambrosiadou’s returns were the 4th best in the world, returning 30.5% in Ikos’ $1.2 billion FX fund.

Click here to see photos of the biggest sailboat yacht in the world, owned by Ambrosiadou >