Ex-Apollo Partner Who Made Millions Allegedly Expensed Haircuts

A former senior partner at Apollo Global Management LLC who made millions of dollars a year was sued by U.S. regulators for allegedly charging the firm’s clients for personal expenses, including vacations in Hawaii and Brazil, and frequent trips to the hair salon.

Ali Rashid was accused of misappropriating $290,000 from January 2010 to June 2013, according to a complaint filed Oct. 25 by the Securities and Exchange Commission (SEC v. Rashid, S.D.N.Y., No. 17-cv-8223, 10/25/17). Rashid falsified his expense reports so that investors in Apollo private-equity funds ended up paying for him to attend friends’ weddings and ...