A former submarine weapons officer turned hedge fund manager, Bryan Caisse was arrested on Saturday in Bogota, Colombia, by officers from the Department of State’s Diplomatic Security Service.
His name should ring a bell for Southern Investigative Reporting Foundation readers: Caisse was the subject of a December report detailing how the once well-regarded mortgage-bond fund manager disappeared from New York in the autumn, leaving a daughter and numerous investors from his fund behind and in the dark.
In October, a prosecutor with the New York County district attorney’s major economic crimes bureau impaneled a grand jury to investigate a host of allegations surrounding Caisse’s nonpayment of a series of so-called working capital loans to his hedge fund, Huxley Capital Management.
Specifically, the prosecutor was interested in unpaid loans from Caisse’s friends and family, many of whom had lent him money on the assurance that there was virtually no risk involved and that it would be repaid with interest in under a year. The Southern Investigative Reporting Foundation obtained documents showing Caisse avoided repaying several of these investors by creating email accounts for a pair of fictitious personal assistants that repeatedly assured the investors a wire transfer was forthcoming or an overnight mail delivery of a check was en route.
Manhattan District Attorney Cyrus Vance unsealed charges earlier today.
The article prompted a flood of replies from readers, many of whom were angry over the portrayal of Caisse, a proud U.S. Naval Academy graduate, recalling a generous and fun-loving friend and former colleague. Several writers noted that Ritchie Capital Management, which lent Caisse’s Huxley $2 million, had not claimed fraud despite having not been paid back. (Ritchie’s position is, however, more discreet: Representatives of the Chicago-based fund, which as the original article noted is no stranger to regulatory woes, argued to the grand jury that any issue is civil in scope and does not — in their view — appear to be criminal.)
In addition, there were numerous objections to a brief reference about Caisse’s drug use, drinking and colorful personal life, as well as expressions of doubt that the 50-year-old had fled the New York City area at all.
But there is no doubt that starting around the third week of October, Caisse showed up in Medellin, Colombia, claiming to be working closely with Colombian businessman Edgar Botero (an engineer best known in that country as the head of the Miss Colombia pageant) in developing a resort between the coastal cities of Cartagena and Barranquilla.
Nothing much emerged from those plans, but Caisse took up residence in Medellin, moving into a small apartment above the Shamrock Irish Pub. Spending many of his days (and nights) drinking with the small U.S. expatriate community there, Caisse alienated several Americans, who grew weary of business plans that never materialized, playing host to him and his increasing reliance on them for loans.
So earlier this month, when Antonio Zamudio, a special agent with the Diplomatic Security Service, showed up in Medellin asking questions about Caisse’s whereabouts, there was no shortage of people hanging around the Shamrock willing to spill the beans, a rare occurrence in a city where visibly cooperating with law enforcement has long been a death sentence.
Caisse’s former friends at the Shamrock told Zamudio that Caisse was planning to be back in Medellin on Saturday, Jan. 18, providing an opportunity to interdict him as he sought to board a plane in Bogota for the trip. On Saturday afternoon, at least one Shamrock regular got a text from Caisse, saying he was “delayed” in Bogota by authorities for an unspecified reason.
On Oct. 8, 2014, Manhattan District Attorney Cyrus Vance sentenced Cassie to serve 1 ½ to 4 ½ years in state prison for stealing more than $1 million from former U.S. Naval Academy classmates and friends, persuading them to give him loans in connection with a new company.
Update: This story was updated on Oct. 8, 2014, with information about Cassie’s sentencing.
I lived Bryan’s Colombian-hide-out story first-hand. I was there from NOV-JAN and lived near the Shamrock. He stayed high or drunk, sometimes on my balcony with my booze, perpetuated the lies of his “successes”, led on young impressionable listeners while prying their money out of their hands (borrowed, as “Western Union is closed”, “my assistant sent me the MCTN”, “my brother sent $10,ooo.oo but Western Union can’t process it because it is too much”, etc.) , and threw around Edgar Botero Henao’s name and confidential beachfront development project to all comers. I got wise after a few days; holes in his $600.00 Gucci shoes, living in a hostel-style room, no cash, lying about his departing flights (one AirTran plane “broke down” and another time he was to fly out on Edgar’s corporate jet to Bogota but the jet “had to fly to Cartagena”). Then BC got “very ill”. I hired a nurse to assist him and began moving him to my apartment one evening, then 20 minutes later he was miraculously cured and went downstairs to Shamrock and began drinking again. Once all the expat’s began triangulating his lies they became suspicious too. I was a naval officer same time frame BC was on ACDU. I have deep roots at the Naval Academy going back two generations. On ACDU I saw first hand the naivety surrounding USNA grads as “irreproachable”. They are not better or worse than any other commissioning source as officers/people. (At one time BC may have been that perfect, trusted officer needed in the Silent Service). Looking back at those weeks, BC thought he was smarter than everyone else. My father’s USNA classmate took loads of money in the 1970′s from his trusting classmates and then when his investment scheme failed, took an private aircraft up and purposefully crashed it to commit suicide. So USNA grads doing wrong is nothing new. The story is not over, there are more facts and probable new charges coming so stand by! Great job Roddy!
DL,
Thanks for your input. Roddy has don’t an incredible job from the beginning with this story and deserves the credit for bringing him in. His due diligence and continued investigations into the original story is what most news sources in America are totally missing.
To hear this evidence first hand from his “colleague” in Columbia gives me a bit of closure and puts to rest any doubt as to Caisse’s true nature and the criminal he has become. He took me for a large amount of money ( to me and my family, perhaps not to your regular Wall Street investor ), and with all the time lines falling into place I also know now that his actions with my money were indeed premeditated.Caisse’s intentions were purely greed driven and I now know without a doubt he had no intentions of paying me back. To see his face on the New York Post gave me great satisfaction knowing he will not be able to ruin other people finically . Once he crossed the line he knew exactly what he was doing. Had he been upfront with me in the beginning I may have different feelings, but since he deprived me of that opportunity, I am hoping he bears the brunt of the Justice system and is held accountable for all his crimes. His court date is March 20th, and I intend to be there.
Thanks again DL and Roddy Boyd for bringing the truth to light.
The man was addicted to hookers, highs, and pathological lies. Terribly ill one minute, football and Stella Artois the next. No slander mentioned, just spot-on reporting, fine job Roddy.
As the prosecution digs further, he will find MANY MORE victims whom Bryan befriended, bullshitted, and then stole from all under the guise of childish misunderstandings that only a maladjusted pre-pubescent would attempt. The narcissism at work here is unlike ANYTHING the average person has ever come across. And, like any narcissist, the reaction once ‘exposed’ is vitriol. Bryan loved to laugh at other people’s misfortunes and the lord has a funny way of leveling the playing field. I take no solace from his comeuppance and 11 charges(smart money thinks the over/under # is closer to 18 when the prosecution finishes their deep dig). One can only feel deep sadness for the innocent 13yr old girl whose sole custodian is likely headed to prison. What chance does that poor girl have in life after living this kinda nonsense.
But the victims deserve their day in court! I hope the prosecution remembers to look into his bloomberg message account as well and does their interviews. Given Bryan even bullshitted the prosecutor with that two step with the passport and next day trip to Bogota, one can expect a pretty vigorous prosecution(how peeved must that prosecutor and his boss have been once they realized he fled). The story about reasons for fleeing are laughable. As if the possibility of work only resides in Colombia–what moron thinks that kinda logic works on educated adults? Good luck Bryan. We all pray justice prevails
Interesting and unfortunate case; how did anyone know what the trial date was set for? Did anyone sit in on the arraignment?
HI all.
i thought i knew Bryan.. after reading all of the comments and articles, everything makes sense now. Please, lets refrain from talking about his daughter, who is the obvious, biggest victim. I would like to add comment that his daughter does have a chance in this world bc her family loves her deeply. she’s been through enough-
thegeneral,
I know the court date because I received a phone call from the ADA and I asked when it was, as to insure that my calendar will be wide open for that day, my wife is looking into taking the day off also. We look forward to seeing him standing before the man on March 20th, just to reiterate. I unfortunately was one of the last victims before his fall from grace. As he assured me he had close to a billion dollars under management, I loaned him money in mid 11′ which I was supposed to begin receiving payments back 3 months after the loan, monthly, to be paid back fully in 1 year at 8% on a fund he assured me was easily clearing 15+% and may payback higher, but my principle was in fact insured by the government. Now I have never invested in a market or stock in my life (outside 401ks). Let’s say I have learned an incredible life lesson here. I’m indebted to Roddy Boyd for his relentless pursuit of the truth and he also kept me up to date as the story was unfolding. He certainly handed Bryan to them on a silver platter, tracking him to Columbia after Bryan actually returned a call to him. I certainly hope the prosecution digs a bit deeper as you mentioned there is probably more to find. Her are some reading for those of you who still think Bryan is a good guy, I like The Daily Beast and The NYPost, they have a bit more information, the NYPost and Daily News have some good photos of him cuffed;
http://www.cjr.org/the_audit/roddy_boyd_tracks_down_an_alle.php
http://www.nydailynews.com/new-york/nyc-crime/naval-academy-alum-bilked-1-million-friends-da-article-1.1587220
http://www.thedailybeast.com/articles/2014/01/22/former-navy-officer-bryan-caisse-is-accused-of-defrauding-friends-and-classmates.html
http://nypost.com/2014/01/21/naval-academy-grad-charged-with-running-1-2m-ponzi-scheme/
http://www.nydailynews.com/new-york/nyc-crime/naval-academy-alum-bilked-1-million-friends-da-article-1.1587220
http://news.yahoo.com/navy-bernie-madoff-104500356–politics.html
I can only speculate, but I would imagine 80% of the people in this country would live their whole lives and never be (un)fortunate enough to meet someone like Bryan Caisse. Knowing now that he never intended to pay me back, and actually spent my money to extend his lavish lifestyle as long as possible, I certainly hope he sentence or plea deal puts him behind bars for a long stay. I do rest more easily knowing he won’t be able to reign destruction on people’s lives anymore and his career in finance is finished.
General, plz contact me via Roddy Boyd. DL
I knew BC as well. Graduated with him in USNA Class of 85 and went to sub school with him in Groton. Can definitely vouch for his extreme partying and general self absorbed personality. I saw him occasionally throughout the years and was pretty amazed at him managing a hedge fund with hundreds of millions of others’ money. I surely wouldn’t have trusted him with even a penny of my money. He absolutely exuded scammer. Remarked to others on more than one occasion after the Madoff scandal broke that I wouldn’t be surprised if we heard about BC soon. To be honest, I am surprised we didn’t hear of this much sooner. Doesn’t surprise me in the least. I am surprised however that the amount in question is only $1M. You don’t live the lifestyle he lived on only $1M. Wouldn’t be surprised if the amount of fraud goes far higher.
General,
I have been friends with Bryan since 2002 and reading this makes me sick to my stomach on so many levels. It is never easy to digest someone you valued as a friend and trusted could have such little regard for other people, particular his close friends. He asked me for a “bridge loan” with high interest and a quick return on 11/21/11. I fortunately did give him the loan, as I was very suspicious. Nonetheless, I remained friends with him. He clearly had no intentions or means of paying me back at that point. I have great empathy for you and his other victims. At the same time, I have great empathy for his family, especially his daughter. Always sad to see someone with so much potential, intelligent, and charisma to fall so low due to the own accord. We all have choices in life and unfortunately for so many, including himself, he made the wrong choices. Hopefully he turns out to be honorable and remorseful in the end, but from what I understand that does seem to be the case.
HS
Meant did NOT give him the loan.
I was on the boat the BC for almost three years. He was the same then, with always an air of shadiness about him. We even wrote a song about him.
My family and I have known Bryan since 2006. We spent summers in the Hamptons together, he was one if the first people I met when I moved to the city. He was one if the smartest people I knew and he always had the most unbelievable stories. Over the past year he had become a little distant. Then he started going to Colombia for “business” all the time and was actually spending his layovers at my parents house in Florida. I was reading one of the comments above regarding his $600 Gucci shoes with the holes in them….and it’s funny…my mother mentioned the same thing. How she thought it was odd that he had nice shoes with holes in them! He had tried to get my parents to invest with him but they never did it. Thank God. He told us he was staying in Colombia for awhile on business and a bunch of BS about how his flights were cancelled and the plane broke down and that he got deathly ill with some rare parasite….all kinds of weird stories. A few months ago Bryan asked my sister to western union him $1200 because he said he got “mugged” in Bogota. I know this isn’t that large of an amount but he said no problem he’d pay her back…that’s just what friends do. So over the last month she has been hounding him asking him where’s the money I lent you. We called his building, wrote him on Facebook, everything and no response. So finally he sent her a message with a fed ex tracking number and said the check is in the mail. The tracking number was bogus, he never mailed and check. We thought that he must have been arrested in Colombia for something stupid or he was killed or something crazy. We were actually worried! So finally we decided to google him and sure enough found all this out!!!!! We are completely shocked, and it really just makes me sick to my stomach. This is someone I truly thought I knew. I have been speechless all day.
And how did that song go. Any way to look at the irony. Maybe just a few phrases…the leopard never changed his spots?
I agree. Fortunately, Bryan’s daughter has many great people on both her mother’s & father’s side of the family who I know will do everything in their power to care for her.
There were many assclowns in our USNA class & I’m reading the comments from one of them. What purpose does your b.s. input serve, you fool. Are you trying to proclaim that you’re just smarter than everyone else?
How do you think the people who lost a large chunk of their life savings feel after reading your comments? What a complete tool…& fool…you are.
You know who I am. Shouldn’t be difficult to figure it out. If you have a problem with my comments, contact Roddy. He has my permission to put you in contact with me.
M-sorry for your family’s losses. You can guess that the money was blown in Medellin on wine, women, and pot. I watched him claim it and blow it. Although the story of who sent it and how much it was is not what he told me (if it was the approx. 8 DEC WU transfer?).
I’d like to get the readers engaged in nominating Roddy for a journalism award. Breaking this story, bringing this light, has changed the minds of many readers. It also exposed the truth about a world class scammer. Anyone know which organizations I can contact? (Google not helpful-already checked). -DL
I’ve known Bryan for many many years. Worked beside him at Bear, then did business with him at West Side Advisors. My perspective is perhaps different from many. And I am certainly not here to defend BC. Like many, I knew him to be extremely intelligent, very entertaining, but born with the need to lie about virtually anything. Usually for no reason other than just to lie. I am saddened that he took the turns that he did and hurt so many people. It appears now, he will pay dearly for his actions. I am sad for his daughter as well. I only met her when she was quite young a few times, but she was such a positive for BC. The light of his life. I feel so bad for her.
Forever when I think of Bryan I will think about some of the funny times. The fact that some co-workers claimed he never dated a girl without a website. Probably true. The fact that he claimed his success with women was a result of the fact he “could breath through his ears and had an 8” tongue. The time he “sold” his place on the west side even though he never even owned it. The time he gassed out his buddies on the way to killington and blew the window fuse on his car leaving the windows down in freezing temps on the way to killington and they all had to goggle up, mitten up etc. The fact that he was really close friends with Ashly Dupree but said “hand to God I didn’t know she was a prostitute”. Haha. Really?
BC is a complicated and tragic figure. Obviously he will do time. He is a criminal. But I really hope he can redeem himself and change. For his benefit as well as his daughter’s. There are many people who are bad to the core. BC isn’t one of them.
Do any of you read before you post what you’ve written. Maybe it should really be kept to yourself. J on and ken. Please spare us, the victims that have really suffered because of Bryan’s feelings of entitlement. If he was so smart why didn’t he just invest the money he took in the market. Since 2008 it’s recovered and his whole plan has sunk to the depths.
Ken always helped him and acted as a buffer a reflector and created more space for Bryan to continue his mad dash for the next victims money. Bryan appointed him in charge of relations, and ken held the scales to weigh who would get paid back according to need, in his personal opinion, with money they never had or got to repay. It would be nice if he stuck to reading his apology over and over to himself for a long time. A day is not enough. His gross lashing out on this site is so distasteful it’s revolting. Just an angry man.
Also to even think as a joke about any warm fuzzy thoughts to Bryan well thanks j on. Just to let you know your putting salt in open wounds. Bryan did not care about any ones tragedies that their money may have helped them to solve. His daughter has had a fine education at the top private school in NYC that Bryan’s victims have paid for for years. She has that to work with. Her father well he’s made it clear to her she’s on her own, he abandoned her for Columbia. Not to work but to get drunk stoned and try to forget with his constant lies to himself and others that there were responsibilities that belonged and waited only for him in NYC . He never would have come back be was brought back by force.
To your comments about him sexually…so gross it’s nauseating. I guess from your perspective it’s not, and in that you don’t care who you might be affending. You say his success with women. Is paying for someone to show up and put on a show, is that success with women? If he has the talent with women you gave him title of then why is there no woman now anywhere near him, no one in the corner with a saw in a cake for him to get out of jail? He is offensive to women unless he’s paid them to smile for him. He even ripped off his own mother they say. So keep your warm fuzzies to yourself and go visit him in jail to express those feelings directly to him and spare the rest of us in reality here.
You say how he loved to lie. That shows how he just thinks he’s superior to all the rest of us on planet earth. He has no honor and abused mercilessly every one of his friendships.
I wish him well. He will have time to reflect and meditate and sober up in jail. Hopefully he chooses to be brave and not kill himself or have anyone do that for him, he might do something good in his future. Killing oneself is very violent to others, like his daughter, and a totally selfish thing to do. If he kills himself once again he’d be doing no one a favor but himself. I do think he should get his head examined, I would not be surprised if he has brain trauma maybe permanent… BC claims he does suffer from his head injury. That can be true. Some doctor should let us all know is he damaged beyond repair or just enjoyed his ride of lies and stealing for his own selfish pleasure.
I hope this narcissistic hypocrite gets his just desert.
Revolted-I don’t see any difference in our conclusions about Bryan except for the fact I know at least something about punctuation. Reread mine and you’ll see. Glad you understand how sick he is and you wish him well. I know a lot more today of how his twisted mind works than I did yesterday as he has tried to victimize me and it came to light upon me writing what I wrote. Kindly express your anger in Bryan’s direction and not mine. I wasn’t defending him, only describing him.
I think your description fit the Bryan I knew to a tee. I certainly am not defending him by any means! But, I heard many of the stories you recounted and he was always able to provide me with a good laugh. I certainly had no idea that his actions would amount to what they have. I feel terrible for the many people he hurt. Perhaps he will be able to reflect on his actions and how they affected his victims and family, especially his daughter. She was incredibly important to him and he loved her very much. My heart breaks for her, but have a feeling she is in good hands with family that will be able to support her during this difficult time. Bryan will now have to live in reality like everyone else.
I have known Bryan since age 17…and to this day consider him one of my best friends….he stood by me…and I will stand by him….This whole thing kind of freaked me out…I am sorry for the losses…but he is truely a wonderful man!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Hi,
I came to Shamrock Nov 2013 for a short visit. BC was living there and seems like alright guy. He bought me some drinks and we got to know each other a bit. One night he took me out to La Isla club and took care of everything but a hooker expense. It should be 300mil for few hours but being a better negotiator I got it down to 170mil and she became my companionship for the rest of my trip before I went home. I was surprised his hooker lasted 5 mins in his room and I never asked why? No money or ???
I returned back to Colombia recently and made a visit to the pub and was asked if I remember BC? Yeah of course and was told to google him up. Oh s- was all I could say and a bit speechless.
Sorry some of you losses and best wishes for your satisfaction of justice.
Lynn, old friend, did you read any of the articles on your wonderful man? He’s a lowlife scumbag. Right up there with the likes of Madoff and everyone on any episode of American Greed! I know there is another condition, other than the many Bryan has, you may have. I don’t know the clinical term off the top of my head, but it’s about women who love men in jail,,,,I’ve seen them on Jerry Springer years ago when we used that show as a drinking game. Whatever it’s called,,,you have it!
Scary place to post given the losses many have suffered but I guess I am a glutton for punishment. I should have been one of those guys Bryan took advantage of. Knew him at the Boat School, partied some with him, had lots of joint (and good) friends. Also, with my lack of Wall Street savvy I should have been an easy ‘mark’ for him when we re-engaged in our late 40s. But, he never asked for money. All he ever was to me was generous with his time, thoughtful, intelligent, encouraging. Clearly he was not that to all others. I can only surmise that people, like life, are complex. He made mistakes. Had flaws and lost his way. But, in my book that does not make him all bad or all forgiven. Just human. But, I do hope karma takes care of the people who have been bilked.
Wow, emptied pockets. You are so filled with hatred that you attack Lynn and infer she has a psychological condition just because she said she still considers Bryan a friend. You seem to have an obsession with Bryan. I understand you lost money, but I am guessing this consumes way more of your thoughts than you should actually allow. I look forward to your apology to Lynn.
Apparently his court date has been postponed…hopefully to allow the prosecutors to gather more evidence….of which I am sure is plentiful. Meanwhile he remains incarcerated, so apparently bail was not forthcoming. Flight risk anyone??????
Obviously his friends have bailed and no-one wants to bail him. Flight risk anyone?? Guess his court date has been changed. Hopefully the Prosecutors are contacting more victims. As a previous comment said, you don’t live the Bryan Caisse Lifestyle on $1.2 Mil. Most expensive hotel in Morocco… Mamounia???? Really.
The date has been moved from March to the beginning of May. I indeed hope it has been due to more victims coming forward and more evidence collected.
Anyone have any current updates? (3 MAY 14)
1 JUL Any Updates?
Next Appearance
Date:July 17, 2014
Court:New York Supreme Court – Criminal Term
Judge:Zweibel, R
Part:41
I have known Bryan for over 10 years and have always found him to be kind and generous with both time and money. He never asked me for anything and has always acted like a friend. This page is filled with personal testimony and I hope that I am allowed to freely air mine.
I heard he was released?
Are there any updates? I saw him over the summer so it seems as though he isn’t going to jail? I think he should he totally deserves it. I saw him June of 2015 and he was renting an “airbnb” because his apartment got flooded and needed renovation. This was on the UWS. He owes me money as well so would like to get an update.
Thanks!
http://161.11.133.89/ParoleBoardCalendar/details.asp?nysid=12551071Y
Bryan was released in May of 2015.
Well google bryancaisse.com ” Phoenix advisors” (rising from the ashes??)
I was Bryan’s limo driver in the early 00’s. He was always kind and gracious and generous to almost a fault. I know he partied but I have to tell you, he was never once out of control or slurring. Never. He adores and cares for his daughter.
Whatever he did here, he’s paying a hefty price and will have trouble getting back into anything when he’s released.
There’s a lot of good in this guy and he deserves a second chance.
Ben Zimmer