This is part 1 of our series on Canadian Danny G. Guy. He is reportedly a criminal fraudster. Frank Report is investigating.
Danny Guy: The Hedge Fund Hustler
Danny Guy wasn’t just another hedge fund manager. He was a man with a grudge, a gambler who hated losing, and—if the lawsuits are to be believed—a manipulator who used deception and dirty tactics to get ahead.
A Bad Bet and a Bigger Lie
Guy made his name running Salida Capital, a hedge fund that promised big returns. But in 2008, the house of cards collapsed. Salida lost 67%, and much of its money was tied up in Lehman Brothers, which had just gone bankrupt. Investors panicked. Salida faded from the scene.
But Guy wasn’t finished. Instead of taking responsibility for his failed bets, he reinvented himself, relocating to Bermuda and launching Harrington Global, a fund that looked suspiciously like Salida under a new name.
In 2016, he made another big bet—this time on Concordia International, a pharmaceutical company. It crashed. Guy’s fund lost $150 million. But instead of admitting he had backed the wrong horse, he cried foul.
He blamed short-sellers—investors who bet against failing companies. In his mind, they weren’t savvy traders calling out a bad stock. They were criminals. A secret “wolfpack” working together to destroy his investment.
The Spy for Hire
Determined to prove his conspiracy theory, Guy turned to Derrick Snowdy, a disgraced private investigator with a history of financial trouble and restraining orders. Snowdy’s job? Spy on Guy’s enemies.
For $25,000 a month, Snowdy befriended short-seller Marc Cohodes, pretending to be an ally. He visited Cohodes’s home in California. He secretly recorded dozens of phone calls, trying to catch him saying something incriminating.
But there was a problem: there was no conspiracy—just Guy’s desperation to find a scapegoat for his losses.
The Anonymous Tipster – Danny Guy
Still looking for a way to sell his theory, Guy turned to another hedge fund player—Newton Glassman, the CEO of Catalyst Capital.
On August 11, 2017, two days after a damaging Wall Street Journal article about Catalyst, Guy sent an anonymous email to Glassman. But he didn’t sign it as himself. Instead, he used the alias “Vincent Hanna”—the name of Al Pacino’s character in Heat.
The email was dramatic. A group of hedge funds and short sellers, he claimed, was conspiring to destroy Catalyst and its lending firm, Callidus Capital. He even warned that “Russian hackers” might be attacking Catalyst’s emails.
Glassman was intrigued—but skeptical. He demanded evidence.
Guy reassured him: Snowdy had “tons” of recordings, emails, and proof.
But when Catalyst’s lawyers finally met with Snowdy, the so-called evidence didn’t hold up. Glassman refused to buy in.
Behind the scenes, he told Guy:
“My guys know [Snowdy] has a history of just selling info to the highest bidder. That makes him a huge risk.”
Guy, by this point, had already paid Snowdy more than $25,000 to peddle lies.
The MiMedx Connection
Even as his plan fell apart, Guy kept pushing. He wasn’t the only one looking for dirt on short-sellers.
A medical company called MiMedx was facing its own collapse. Cohodes had publicly exposed their accounting fraud, and their stock was plummeting. MiMedx was desperate to fight back.
That’s when Snowdy showed up—offering the same underhanded services he had provided to Guy. MiMedx hired him to spy on Cohodes, dig into his emails, and track his private conversations.
It all unraveled when MiMedx’s CEO and COO were convicted of fraud. The company collapsed.
The Lawsuit That Exposed It All
For years, Cohodes had no idea he had been under surveillance. Then, in 2021, a Canadian court unsealed documents revealing the entire scheme.
Emails, meeting notes, and WhatsApp messages showed that:
- Guy had hired Snowdy to spy on Cohodes.
- Under Guy’s direction, Snowdy had recorded phone calls without consent.
- Guy had tried to sell the same “wolfpack” theory to multiple companies.
Cohodes sued Guy, Snowdy, and MiMedx for illegal surveillance, defamation, and invasion of privacy.
His lawsuit alleged that:
- Guy paid Snowdy to dig up dirt—and when there was none, they made things up.
- Snowdy illegally recorded phone calls and leaked emails.
- MiMedx used these tactics to smear Cohodes’s reputation.
Danny Guy: The Con Artist or the Fool?
Danny Guy spent hundreds of thousands of dollars trying to prove a conspiracy that didn’t exist. He lied to hedge funds, hired a shady private eye, and spread paranoia in financial circles—all because he lost money on a bad bet.
But in the end, the only person who looked like a criminal was Guy himself.
To be continued….
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