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Rating:A Fund Baron is Close to Resolving a Wall Problem Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, April 24, 2009

A Fund Baron is Close to Resolving a Wall Problem

by: Armie Margaret Lee

Ron Baron, founder, chairman, CEO and CIO of Baron Capital Management, is in the news, but it doesn't involve fund performance or AUM. On Thursday, the East Hampton Star reported that a town justice had agreed to give Baron until the end of next month to demolish 500 feet of an 845-foot retaining wall that was allegedly built illegally on his Further Lane property last October.

A spokesperson for Baron declined to comment to The MFWire.

The construction of the wall had entailed the destruction of a 3,000-year-old double dune and its protected habitats, the East Hampton Star reported.

Baron was reportedly charged in January with eight misdemeanor counts of violating the town's zoning code.

A demolition permit was expected to be issued this week. As for the rest of the wall, Baron will have until May 5 to apply to the zoning board of appeals for a permit to preserve the remaining 300 feet of wall.  

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