Igor Abramov, former US compliance head at $32 billion hedge fund Capula Investment Management, has refiled allegations that the firm wrongfully terminated him after he raised concerns about improper expenses and trading practices. Abramov's original federal lawsuit was dismissed last month on jurisdictional grounds, prompting his Monday filing in New York state court.

Abramov claims he faced retaliation after questioning artwork and private-jet expenses charged to the Capula Multi-Strategy Master Fund Ltd. He alleges senior executives pushed back when he sought transparency about pass-through expense disclosures and conflicts of interest. The compliance officer also raised concerns about possible improper cross-trading among Capula funds and test trades related to a new convertible-bonds strategy that he believed unduly risked investor funds.

Capula has consistently denied Abramov's allegations, calling them "concocted" and maintaining the firm "always operated to the highest standards of compliance." The refiled case, Abramov v. Capula Investment US LP, now moves forward in New York State Supreme Court, New York County. The dispute highlights ongoing tensions between compliance officers and hedge fund management over expense disclosure practices and risk management protocols.