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In 24 October 2013, Muddy Waters released a report on NQ Mobile, a Chinese-based cybersecurity and mobile application company. Muddy Waters's research report claimed NQ Mobile had "fictitious" customers and revenues. In April 2015, the co-CEO of NQ Mobile, Omar Khan, stepped down after the stock had fallen nearly 84 percent. [8]
Fund administration is the name given to the execution of back office activities including fund accounting, financial reporting, net asset value calculation, capital calls, distributions, investor communications and other functions carried out in support of an investment fund, which may take the form of a traditional mutual fund, a hedge fund, a private equity fund, a venture capital fund, a ...
Harry M. Markopolos (born October 22, 1956) is an American former securities industry executive and a forensic accounting and financial fraud investigator.. From 1999 to 2008, Markopolos uncovered evidence that suggested that Bernie Madoff's wealth management business was a huge Ponzi scheme.
Fees. Hedge funds have a two-component fee structure called 2 and 20, and it refers to 2% from assets under management and a 20% performance fee.
In November 2008, Dreier claimed that Solow was looking to raise $500 million by selling short-term, high-interest notes, which were supported by an audit report that Dreier had forged. The report had been used to try to dupe a hedge fund, Whippoorwill Associates, into buying bogus Solow Realty promissory notes. On October 15, fund managers ...
Contact your bank or credit card company if you paid a scammer to report a fraudulent charge. If you sent cash by mail, contact the U.S. Postal Inspection Service and ask them to intercept the ...
The Bayou Hedge Fund Group (1996-2006) was a group of companies and hedge funds founded and headed by Samuel Israel III. Approximately $450m was raised by the group from investors, who were defrauded from nearly the start with funds being misappropriated for personal use.
Samuel Israel III (born July 20, 1959) [1] is an American fraudster and former hedge fund manager for the Bayou Hedge Fund Group, which he founded in 1996.In 2008, Israel was sentenced to 20 years in prison and ordered to forfeit $300 million for defrauding his investors.