College intern sues boss to recover unpaid wages

Naresh Vissa, a finance, accounting and broadcast journalism student at Syracuse University, has filed a lawsuit against Ed Butowsky, a Managing Partner at the Chapwood Capital Investment Management firm that claims to manage over $3 billion in investments, for allegedly failing to pay Vissa $900 for time worked as an intern last summer.

Ed Butowsky

Ed Butowsky describes himself as “a nationally-recognized expert in investment management who is interviewed frequently by the media, including Bloomberg TV, FOX Business News, ABC, NBC, Sports Illustrated, and SIRIUS radio.”

Vissa wrote about his “horrific internship experience” in The Daily Orange, the Syracuse University newspaper, and described how Butowsky “left (him) profane and vulgar voicemails” after Vissa threatened legal action to recover his unpaid wages.  He also wrote:

“Two days ago, more than two months after my internship, I finally received a check that was off the books; It was a quarter of the amount I am owed.  My boss continues to leave voicemails, threatening my future employment and saying he has made calls to Syracuse University about me.  He continues to stress that I have no idea the reach he has in places where nobody would want him to be, and that he will file a lawsuit against me for fraud, charging I did not deliver the results he was looking for.”

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8 responses to “College intern sues boss to recover unpaid wages

  1. This Ed Butowsky guy is one of the biggest liars I know. I once had my money with him. His returns are poor, and he’s one of the most dishonest individuals you’ll ever meet. It’s about time someone stood up to his unethical behavior. If anyone can do it, it’s this young 20 year old intern. The voicemails will be Butowsky’s be-all, end-all. Bless the kid for his guts.

    • you are absolutely correct, Ed is a liar. I can’t believe he has not be shut down by the SEC yet. I find it extremely unlikely he has $3billion AUM, more likely, $500million if that.

  2. Butowsky’s digging a deeper and deeper hole for himself. Just pay the kid and move on. The fact that a $3 billion money manager is going through so much trouble not to give the amount owed shows there could be a much deeper problem within his company…

  3. Is this some kind of a joke? The roles seem reversed here: an old man acting like a drunk 20 year old (at least in the voicemails), and a poor 20 year old filing a suit like he’s some kind of Wall Street hotshot. I can’t believe my wife makes me watch guys like him on FOX. Bloomberg at least has some standards.

  4. I have known Ed for Years. This is complete bull crap! The “kid” in question said he can do all this “work” for Ed but turns out he didn’t know a thing!!! NOTHING!! Ed would ask him to do things and he couldnt!! Thats why he was fired. You people need to get your story straight. And Ed DID pay him! He’s lucky he got paid at all. He did nothing!!!

  5. Jacob,

    Your post sounds just like the voicemails Ed Butowsky left me! Actually, if you want to hear the true facts, where Ed admits I QUIT and wasn’t fired, then listen to the voicemails. I’ll post them up on YouTube so the truth can be exposed!!! You can hear his vulgar and threatening language. You can hear his stalking messages to my father’s home phone number. Dealbreaker and Gawker will be all over this one!!!!! Happy New Year!!!!!!!!!!!!

  6. Doesn’t suprise me one bit, I’ve met Ed butowsky and I have to say it was the most unpleasant experience ever. The man is such a disrespectful arrogant jerk who has little regard for the every day individual and thinks that just because he is very wealthy he can walk all over anyone he sees…you’re a horrible person Butowsky!

  7. Pingback: Chapwood partner Ed Butowsky tries to bury reports of dispute with former intern | eBossWatch

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