BANKRUPT BANKER
Showing posts with label Canadian hedge fund manager. Show all posts
Showing posts with label Canadian hedge fund manager. Show all posts
Canadian hedge fund manager running $53-million -- who had been posting stellar commodities returns, despite the commodities collapse
Saturday, 13 December 2008
According to a complaint filed by the Ontario Securities Commission, a Canadian hedge fund manager running $53-million -- who had been posting stellar commodities returns, despite the commodities collapse -- turns out to have obtained those returns by putting his fund's assets into two Luxembourg companies that own rights to glaciers in Iceland. Neither company had revenues (or profits), but, according to the complaint, the hedge fund manager had marked them up regularly all the same, thus producing lovely and eye-pleasing returns for investors. The twist -- and you knew this was coming -- is that the Canadian hedge fund manager (who now mostly lives in Iceland, despite his fund being out of Toronto) allegedly had a significant stake in the companies when his fund bought their shares. But of course he did.
0
comments
-
BBC Cliff Richard raid coverage was 'invasion of privacy' - BBC News - BBC Cliff Richard raid coverage was 'invasion of privacy' - BBC News: 'via Blog this' :Text may be subject to copyright.This blog does not claim copyri...
-
The Spanish Untouchables - [image: Busto del Rey Juan Carlos I de España en su vi...] A new tell-all book that details what led to Spanish king Juan Carlos giving up the throne wou...
-
'Hatchet' Gerard Kavanagh shot dead in Costa del Sol pub - Gerard Kavanagh was shot dead in a bar on the Costa del Sol Notorious gangster Gerard “Hatchet” Kavanagh was gunned down by two masked assassins yesterda...
-
Gang boss burns out garda sergeant's car while he plays football - Gardai have launched a major investigation after a car belonging to a popular sergeant was burnt-out in a grudge attack linked to gangland thugs. SHARE T...
-
Spanish police have arrested a Colombian drug boss dubbed ‘The Mouse’, the alleged leader of a major cocaine smuggling gang accused of 400 killings - Spanish police have arrested a Colombian drug boss dubbed ‘The Mouse’, the alleged leader of a major cocaine smuggling gang accused of 400 killings, offi...
