The fund founded by “The Black Madoff” was bankrupted in 2012 after Alphonse Fletcher, Jr.’s firms, Fletcher Asset Management and Fletcher International, failed to meet redemption requests of £97 million ($144 million). The son of a technician at a submarine building firm, Alphonse Fletcher, Jr. swapped his boyfriend of ten years, Hobart V. “Bo” Fowlkes, Jr. for a lawyer wife named Ellen Pao when he married in San Francisco in 2007. Curiously, Fletcher retained Fowlkes as an advisor to his companies, made him godfather to his daughter and also bizarrely sued the board of directors of The Dakota co-op building in which he owns four apartments alleging racial discrimination in 2011. Born in New London, Connecticut and a Harvard graduate, Fletcher is described as thinking of himself as “the king of the world” and enjoyed all the trappings of a playboy at the height of his success. With a 1,100-acre £4 million ($5.9 million) estate he referred to as “the castle” in Cornwall, Connecticut, a £3.1 million ($4.6 million) home in Montauk, a £2.6 million ($3.9 million) condo in The St. Regis San Francisco Hotel and a townhouse on East 66th Street in Manhattan, this hedge fund manager well and truly had it all and was also respected as a generous philanthropist. He now stands disgraced and accused of civil fraud whilst in March 2015 his wife lost the widely publicised gender discrimination suit she had brought against Kleiner Perkins Caufield & Byers, LLC. Described as “The Odd Couple” by Fortune magazine in 2012, Alphonse Fletecher, Jr. and Ellen Pao are prime examples of why greed isn’t always good.
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