Employee Allegations
At Goldman Sachs in the early 1990s, Abrams says he researched derivatives strategies alongside the late Fischer Black, one of the co-authors of the Black-Scholes equation used to calculate options prices. By the end of the 1990s, he was co- head of U.S. equity-derivative trading and convertible arbitrage at Merrill Lynch.
In 2001, he founded the hedge fund Titan Capital Group, where he aimed to profit from unlikely market scenarios by buying out-of-the-money options contracts.
The fund was sued in 2010 by an investor claiming it was misled about Titan’s strategy and risk level. An appeals court dismissed the case in 2012. Titan was also sued by two former employees in 2009 for sexual harassment after Abrams asked them to print topless photos of his wife, according to court documents. A New York court dismissed the complaints in 2011. The fund closed last year, Abrams said.
While it was disappointing to be sued by investors who profited with his fund, Abrams said, he’s satisfied with the court decisions.
His Argentina foray began when he traveled to the country 27 years ago and became enamored with the festive culture and the architecture of Buenos Aires. In 2006, he says he bought real estate in the country.
He started the taxi business two years later and now runs it with a local partner.
“Work is good,” said Alberto Samaniego, who’s been a driver for Abrams’ company for over a year. “I don’t know if he’s a big investor in New York. To me, he’s an easy-going boss who makes sure the cars are in good shape.”