Alternative lender Monroe Capital has terminated the employment of managing director Warren Woo, and is now suing him for allegedly stealing confidential client information and trade secrets.
The Chicago-based firm filed suit against Woo in the Circuit Court for Cook County, Illinois last week.
The complaint alleges that over the past 18 months, Woo forwarded himself “hundreds” of confidential client information and trade secrets emails from his Monroe email account to an email address at Los Angeles-based Breakaway Capital.
In the complaint, Monroe says that it became aware of the email forwarding after the SEC sent a subpoena to the firm asking for information about Breakaway Capital.
Monroe declined to comment further on the details of the subpoena or the SEC investigation.
The complaint states that Woo tried to hide the forwarding by deleting the emails after they were sent from his Monroe account.
Woo worked on the firm’s main lending fund, according to the New York Times. Before joining Monroe, Woo was a founding member and managing director at New York-based investment bank Moelis & Co.
Ted Koenig, president and chief executive of Monroe Capital, said in a statement: “Our company’s rules are strict with regard to these activities as well as with our clients’ confidential information so that we can maintain the highest integrity and trust with our customers.”