- Not heinous enough, although I agree he's a pretty unpleasant person if all this is true
Paul Singer is the CEO of Elliott Management Corporation which buys poor countries' debts in order to make money from them. According to The Guardian, "Elliott's principal investment strategy is buying distressed debt cheaply and selling it at a profit or suing for full payment."
After Argentina defaulted on its debt in 2002, NML Capital Limited, a Cayman Islands-based offshore unit of Paul Singer's Elliott Management Corporation refused to accept its offer to pay less than 30 cents per dollar of debt. These are bonds with a face value of $630 million, for which NML reportedly bought for $48 million, but that Elliott assessed were then worth $2.3 billion with accrued interest.
In early October 2012, NML arranged for the seizure of an Argentinian naval vessel in Ghana, the ARA Libertad, in an effort to force Argentina to pay its debt. Argentina, however, refused to pay the debt, and shortly thereafter regained control of the ship and removed it from Ghanaian waters.
In a November 2012 piece in the Huffington Post, Argentina's Foreign Affairs Minister, Hector Timerman, harshly criticized Singer for attempting to collect on the debt. Calling Singer “the inventor of vulture funds,” Timerman argued that the $127 million Singer had received from the Republic of Congo to settle a $400 million debt he had acquired for $10 million “should be going to build roads, schools and other poverty reduction programs.”