Josh Rafaelli, who has deep roots as a Silicon Valley investor and supports many Elonmsk companies, is suing his former employer, a massive trillion dollar Aum Brookfield Asset Management, reports The New York Times.
Many of Raffaelli’s complaints relate to how Brookfield covered pandemic-related property losses, claiming that the company fired him after filing a whistleblower complaint with the SEC. His lawsuit filed allegations of fraud and bribery, but Brookfield vehemently denies fraud, the Times said.
In February, Brookfield quietly closed a venture capital unit run by Raffaelli, and involved some of its assets in another unit, Bloomberg reported at the time. One of the complaints in Raffaelli’s lawsuits is that Musk-owned companies didn’t buy as much stake as Brookfield secured its purchasing ability.
Raffaelli had traded to buy from Musk companies such as SpaceX, Xai and The Borring Company. His Brookfield Fund was a major backer of Musk’s Twitter acquisition, Bloomberg reported.
The lawsuit is highly publicized by Raffaelli, who previously worked as a partner in a VC company known as Draper Fisher Jurvetson. (Today, it’s a collection of funds.) While at DFJ, Brookfield helped the company invest in Musk companies such as SolarCity (acquired by Tesla), SpaceX, and Tesla.