from www.finalternatives.com – Earlier this summer, smutty hedge fund AdultVest crashed the Apple developer’s conference in San Francisco with a quintet of scantily-clad models flogging one of the firm’s portfolio companies, iPorn.com. For its next publicity stunt, the adult entertainment industry hedge fund is staying a little closer to home.
iPorn—which offers users thousands of free “XXX adult-rated” videos— is holding its “annual iPorn Hot Body Contest” at InterNEXT Expo tomorrow. www.adultfyi.com/read.php?ID=36506
InterNEXT is “the adult industry’s premier summer event,” according to the press release.
iPorn is offering $10,000 in prizes—$1,000 to the winner, with an $8,000 modeling contract on the line—for the would-be models who participate. Interested women have until tomorrow at 4 p.m. to sign up at the “iPorn Cabana” at the Westin Diplomat Resort and Spa in Hollywood, Fla.
AdultVest’s Priapus Investment Fund was named Institutional Investor Magazine’s “Hedge Fund Launch of the Year” last year. But sources close to the firm told FINalternatives earlier this year that AdultVest founder Francis Koenig was looting the fund to pay for his lavish lifestyle.
“There is almost no money left in the fund,” an investor said. “Koenig has an American Express black card through the company that he uses on partying, girls and high living. Most money is missing and iPorn.com is not worth what he says it is.”
Koenig has denied that there is anything untoward about AdultVest, other than its smutty investments.