Paul Touradji, founder of Touradji Capital Management, a hedge fund firm with $3.5 billion in assets under management, is being sued for allegedly witholding bonuses from employees.

Robert Vollero, a former fund manager at the firm who left Touradji Capital in December, yesterday joined a $23 million lawsuit originally filed by Gentry Beach, another of Touradji's former employees. The lawsuit alleges Touradji withheld bonuses, and coupled with Vollero's claims Touradji is being sued for more than $50 million for "breach of contract," according to the filing.

"The complaint filed by Beach and Vollero is baseless and totally without merit," says Fraser Seitel, a spokesman for Touradji. "What is most distressing is that these two individuals each made multiple millions of dollars in their three years at Touradji. Now they are resorting to this ploy to deliberately punish the reputation of a successful hedge fund manager."

Seitel said it is Beach and Vollero who owe Touradji Capital money after borrowing funds to participate in an investment they oversaw that ultimately failed.

Beach left Touradji Capital Management in September. The lawsuit was filed in the New York State Supreme Court in Manhattan. Beach and Vollero are both being represented by Liddle & Robinson. Both joined Touradji Capital Management in May 2005 as portfolio managers.