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Hedge funder fired over wild Hamptons party

Moore Capital Management said it has fired a portfolio manager who threw a wild party in the Hamptons over the July Fourth weekend, which has since become famous on the internet.

"Mr. [Brett] Barna's personal judgment was inconsistent with the firm's values," the company told CNBC in a statement. "He is no longer employed by Moore Capital Management."

News reports cited a raucous party that Barna threw over the weekend at a $20 million mansion in the Hamptons, the summer playground of New York City's wealthy. The party featured showers of Champagne, throngs of young people milling around the house and dwarfs with Champagne guns.

The New York Post said the owner of the house, who remains unnamed, is threatening a $1 million lawsuit against Barna for trashing the house, which he rented on Airbnb for $27,000.

The owner claims Barna "came to me dropping [Moore founder] Louis Bacon's name and saying he was a big deal with the Robin Hood Foundation. He said there would be 50 people at the event and it was for animal rescue. But the only animals there were the people," the Post reported.

CNBC reached out to Barna for comment and has not heard back. He likewise did not respond to the Post's request for comment.