Black Holes in the Wholesale Universe – The risks of wholesale funds
Article written by InvestNow
In April this year another obscure subterranean fund surfaced into public view as a likely ponzi scheme.
As further details came to light, it emerged that Penrich Capital, operating from a Christchurch base had sunk investor assets into a Cayman Islands-domiciled fund, allegedly valued at about $400 million.
The Serious Fraud Office (SFO) is currently investigating the firm, […]