Anthony Malakian: Undue Diligence
Criminal fund managers, it seems, are hiding in plain sight, becoming more and more brazen with their frauds.
Take, for example, James Michael Murray, who runs San Francisco-based Market Neutral Trading. According to the Securities and Exchange Commission (SEC), Murray created a bogus audit report that embellished the financial performance of the fund so as to downplay actual losses and gin up unsubstantiated returns.
To conceal his crimes, Murray created a shell company, which he called Jones
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