{"id":31187,"date":"2012-09-10T08:11:24","date_gmt":"2012-09-10T12:11:24","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=31187"},"modified":"2012-09-10T08:19:22","modified_gmt":"2012-09-10T12:19:22","slug":"sec-says-illinois-hedge-fund-manager-hid-major-losses-performance-during-financial-crisis","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/09\/2012\/sec-says-illinois-hedge-fund-manager-hid-major-losses-performance-during-financial-crisis.html","title":{"rendered":"SEC Says Illinois Hedge Fund Manager Hid Major Losses During Financial Crisis"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2012\/09\/financial-crisis-2008-2009.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-31190\" title=\"financial-crisis-2008-2009\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2012\/09\/financial-crisis-2008-2009-300x232.jpg\" alt=\"\" width=\"300\" height=\"232\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2012\/09\/financial-crisis-2008-2009-300x232.jpg 300w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2012\/09\/financial-crisis-2008-2009.jpg 619w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>New York (HedgeCo.Net) &#8211; In suits filed in Illinois, the SEC and the\u00a0Commodity Futures Trading Commission took emergency enforcement action against hedge fund manager\u00a0Nikolai Battoo for\u00a0allegedly exaggerating the value of the assets he managed and concealing major losses from investors\u00a0during the 2008 financial crisis.<\/p>\n<p>The SEC alleges that Nikolai Battoo claims to manage $1.5 billion on behalf of investors around the world, including at least $100 million for U.S.-based investors. But contrary to Battoo\u2019s proclaimed track record of exceptional risk-adjusted returns for his investors, he actually suffered major losses in 2008 due to his investments in the Bernard Madoff Ponzi scheme and a failed derivative investment program.<\/p>\n<p>&#8220;Rather than admit the losses to investors,&#8221; The SEC said, &#8220;Battoo has been overstating the value of his investments in a variety of ways. By boasting benchmark-beating returns, he has continued to attract new investors. However, during the past several months, investors have requested redemptions on their investments with Battoo. Instead of paying them, Battoo has provided a series of excuses ranging from the MF Global collapse to others placing a hold on investors\u2019 money due to government investigations.&#8221;<\/p>\n<p>Alex Akesson<br \/>\nEditor for <a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.Net<\/a> is a premier <a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\">hedge fund database<\/a> and community for qualified and accredited investors only. Membership in <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; In suits filed in Illinois, the SEC and the\u00a0Commodity Futures Trading Commission took emergency enforcement action against hedge fund manager\u00a0Nikolai Battoo for\u00a0allegedly exaggerating the value of the assets he managed and concealing major losses from investors\u00a0during [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16005,11,3],"tags":[],"class_list":["post-31187","post","type-post","status-publish","format-standard","hentry","category-developing-stories","category-hedge-fund-fraud","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/31187","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=31187"}],"version-history":[{"count":8,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/31187\/revisions"}],"predecessor-version":[{"id":31189,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/31187\/revisions\/31189"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=31187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=31187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=31187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}