Report: McLaren driver leaves job days after arrest
Updated 5:32 pm, Monday, September 15, 2014
Paul Orwicz, the McLaren driver arrested in New Canaan two weeks ago after police said he sped away from officers after a traffic stop, left his job as a money manager at Steven A. Cohen's Point72 Asset Management LP, according to Bloomberg.
Orwicz, 46, of 1483 Ponus Ridge Road, New Canaan, was arrested Aug. 28 on charges of reckless driving, improper passing and disobeying an officer's signal.
Orwicz did not immediately return a call for comment, but he told Bloomberg last week that he resigned after his two-year contract with the Stamford-based firm ended and that he's now seeking other opportunities in the hedge-fund industry. Bloomberg also reported that Orwicz called the arrest an "unfortunate coincidence" with his departure from Point72.
A call to Point72 also was not immediately returned. The firm, which was founded in 1992, was formerly known as SAC Capital Advisors. According to Bloomberg, Orwicz joined SAC in 1998 before he left to start his own hedge fund in 2010. Two years later, he returned to SAC, Bloomberg reported.
The driving incident began at about 9 p.m. Aug. 28 when a police officer driving an unmarked Chevrolet Tahoe on Wahackme Road looked at his rearview mirror and saw a yellow McLaren following him very closely, according to police. Orwicz also was seen driving over the double yellow line and eventually passing the police vehicle, the report stated.
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The officer stopped the car and radioed the plate number to police, but right before leaving his vehicle to speak to the driver, Orwicz took off at a high rate of speed, according to the report. The officer did not chase Orwicz but instead headed to his Ponus Ridge Road home along with other officers, police said.
As he was taken into custody, Orwicz said "taking off was a stupid decision" but he said he "didn't understand why the officers were at his house because he didn't kill anyone or damage any property," according to the report.
Orwicz, a founding member of the Monticello Motor Club, has been fascinated with cars since he was a child, according to the club's website.
He told Bloomberg he drove away from the unmarked vehicle because there was a delay in the driver getting out of the car and he feared being carjacked.
He was released on a $1,500 bond that night and is scheduled to appear in court Oct. 8.
A mug shot of Orwicz was not available because police said they did not take one.