Business

Hedgie trustee named

A white-collar crime expert has been named the bankruptcy trustee for Fletcher International, the hedge fund run by Alphonse “Buddy” Fletcher that is involved in a bitter dispute with three Louisiana pension-fund investors.

The trustee, Richard J. Davis, a former Weil Gotschal partner, told The Post that “my function will be to review the assets, review the valuations and conduct investigations.”

One point of contention is the valuation of assets of United Community Banks, which Fletcher says are worth $136 million and could pay off the pension funds, which have been trying to get their money back.

Earlier this year, a Caymans court ruled the assets were worthless.

The pension funds for Louisiana firefighters and public employees claim the $100 million they invested has disappeared.

“We absolutely are going to investigate whether or not there has been fraud,” Davis said.

A spokesman for Buddy Fletcher didn’t respond to a request for comment.