List of HF/FoF Fraud Cases

Case Name  Case No.
Year  Key Principals  Est. Size ($mm)
Madoff n/a 2008 Bernie Madoff $60,000
Stanford n/a 2008 Alan Stanford $8,000
Petters No. 3 2009 Thomas Petters, et al $3,650
AIJ No. 5 2012 Kazuhiko Asakawa, et al $2,400
Absolute Capital   2007 Florian Homm, et al $2,100
WG Trading No. 6 2009 Steven Walsh & Paul Greenwood $1,300
Banyon 2009 Scott Rothstein $1,200
Yorkville 2012 Mark Angelo $1,000
Millennium No. 4 2008 Michael Balboa $844
MRI No. 11 2013 Edwin Fujinaga $813
Weavering No. 9 2008 Magnus Peterson $639
K1 No. 10 1996 Helmut Kiener $597
Manhattan   2000 Michael Berger $575
Fletcher 2012 Buddy Fletcher $454
Bayou No. 1 2005 Sam Israel $450
Lake Shore   2007 Philip Baker $312
Beacon Hill   2002 John Barry $300
Scoop   2009 Arthur Nadel $300
Philadelphia Alt No. 2 2005 Paul Eustace $278
Westgate No. 7 2009 James Nicholson $220
CSA 2004 Charles Schmitt $200
Lancer   2003 Michael Lauer $200
KL Group   2003 John & Yung Kim $200
IMA   2006 Kirk Wright $150
North Hills No. 8 2009 Mark Bloom $30
AJR 2010 Aleksander Efrosman $5

“Hedge fund due diligence is the process of reviewing and monitoring the operation and management of hedge fund managers. The objectives of due diligence are to identify managers with whom to invest and to monitor those managers on an ongoing basis in order to ensure that investing with them is appropriate for the interests of the investor.”

- Stephen J. Brown, David S. Loeb Professor of Finance, NYU Stern School of Business -