13.1 C
New York
Thursday, May 26, 2022

Scaramucci’s SkyBridge sues Premium Point Investments

Scaramucci's SkyBridge sues Premium Point Investments© Reuters. FILE PHOTO: New White House Communications Director Scaramucci addresses daily briefing at the White House in Washington

(Reuters) – SkyBridge Capital II LLC said on Monday it was suing Premium Point Investments LP, claiming it lost nearly $80 million because the investment service inflated the value of its hedge fund assets.

SkyBridge, a hedge fund investment firm founded by U.S. President Donald Trump’s former aide Anthony Scaramucci, claims that Premium Point overstated its hedge funds’ valuations by $200 million using false broker quotes that artificially inflated the prices of bonds. (https://

In May, federal prosecutors charged Premium Point’s founder Anilesh Ahuja and two former members of the firm with inflating the value of assets held by the firm’s hedge funds.

Ahuja and former partner Amin Majidi and former trader Jeremy Shor pleaded not guilty.

SkyBridge said its investors recovered only $300.5 million of the $365.9 million that they invested in Premium Point funds and suffered $14 million more in damages from lost investment profits.

Both firms could not be immediately reached for comment.

Premium Point filed for bankruptcy in March.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source: Investing.com

Related Articles

Stay Connected

11,304FansLike
12,893FollowersFollow
751FollowersFollow
- Advertisement -

Latest Articles

Popular Articles