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Police arrest hedge fund manager in prostitution sting

Tigard firm says James Bisenius will remain in his leadership role


BiseniusA Sherwood man in charge of a nearly $3 billion hedge fund management company will be keeping his job, after he was arrested Aug. 29 for reportedly soliciting a prostitute in Tigard.

James Bisenius, the founder, CEO and CIO of Common Sense Investment Management, was one of nine people arrested in an undercover enforcement operation conducted by the Tigard Police Department last week.

Police say he and the other men responded to a fake online ad offering sex for money.

The prostitute turned out to be an undercover Tigard police officer, and Bisenius, 62, was arrested when he allegedly arrived for a meet-up with the prostitute at a local hotel.

Common Sense, based in Tigard at 15350 S.W. Sequoia Parkway, was founded by Bisenius in 1991. The firm invests money into hedge funds on behalf of its investors, which include large public pension funds from Oklahoma and Cincinnati, Ohio.

The company released a statement on Wednesday saying Bisenius’ legal troubles would not impact his position with the firm.

“Jim Bisenius’ recent personal transgression bears no reflection on this outstanding team of professionals or the quality of portfolio management at CSIM,” the company said in a statement. “Going forward, the firm’s partners have decided that Jim will remain in his role as chief executive officer and chief investment officer, and he will deal with this recent event as the personal matter that it is.”

News of the arrest and the company’s decision to keep him have spread after his arrest was first reported by The Oregonian, reaching The New York Times, NBC News, Bloomberg and others.

Common Sense is one of the largest funds of its kind in the world. According to InvestHedge, the company is the 46th largest fund of its type as of last year.

“CSIM’s success is about a team of committed and driven investment professionals; not one individual,” the company said.

If found guilty, Bisenius faces up to a year in jail and a $5,000 fine.

The other men arrested in the Aug. 29 sting include Armando Delcid, 37; Geordie Lance Duckler, 54; Michael Dennis Frost, 40; Lakshmiraghu Kishore Gandham, 31; Evan Douglas Gonroff, 18; Hector Lopez, 32; Jose Manuel Rivera, 25; and Steven Alan Steinberg, 43.