News about Louis Bacon

Following a bitter, years-long defamation lawsuit that has concluded in New York, disgraced Canadian fashion mogul Peter Nygard must pay $203 million to billionaire hedge fund manager Louis Bacon. According to a ruling, Nygard, 81, was ordered to make the payment following "an all out effort to kill Bacon" that included false allegations that he was a KKK member guilty of insider trading. Layn Phillips, the supreme court-appointed special referee, in the case, spent a staggering $15 million to spread the highly damaging allegations about Bacon "out of fear, ill-will, mistrust, and malice." Nygard is now in a Canadian jail on suspicion of sex trafficking allegations.