At Hedge Fund That Owns Trump Secrets, Odd Bond Math (Repeat)

(This story was originally published on March 18, 2019. On Monday, Chatham and Melchiorre agreed to pay the SEC $19 million to settle a probe into the hedge fund’s bond-trading practices.)

The threat was blunt: Back off, or there will be trouble.

The 2016 presidential campaign had just ended, and Michael Cohen was fresh off handling hush money for Donald Trump. Now he was working for the benefit of Chatham Asset Management, a $4.3 billion hedge fund that owns the National Enquirer.

David Pecker

Photographer: Francois Durand/Getty Images

Enquirer publisher David Pecker, whom Chatham had appointed to the board of another of its holdings, had ...