Prosecutors Say a Hedge Fund Faked Investor Statements. Now Its Founder Faces 2 Fraud Charges

Prosecutors Say a Hedge Fund Faked Investor Statements. Now Its Founder Faces 2 Fraud Charges

Authorities allege investors received reports showing gains that did not actually exist.

Oraclum Capital founder accused of falsifying hedge fund returns

Vuk Vukovic, co-founder of New York-based hedge fund Oraclum Capital, has been charged by US prosecutors with securities and wire fraud over allegations that he misrepresented the performance of the firm’s investment fund to clients, according to a report by Bloomberg.

Hedge Fund Founder Vuk Vukovic Charged With Faking Investor Returns

A New York hedge fund founder is facing federal fraud charges after prosecutors say he sent investors fake account statements showing returns that were, well,...