Beverly Hills Hedge Fund Fraud Unraveled
| April 29th, 2009 | ||
| The Securities and Exchange Commission put an end to another hedge fraud today when it used a court order to halt Bradley L. Ruderman and his two hedge funds, Ruderman Capital Partners and Ruderman Capital. Mr. Ruderman allegedly told investors that his funds had $800 million in assets with annual returns as high as 60% . In reality, he had fraudulently raised $38 million from investors and his funds have account balances of less than $1 million. Ruderman Capital is the eighth fraudulent scheme that has been added to the Hall of Fraud in April, bringing the monthly total to $276 million. The SEC has been halting an increasing number of fraudsters recently, a trend that should only increase after their recently announced plans to create a fraud specialist team. | ||
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Related Article Tags: Hedge Fund Fraud and Ponzi Scheme News
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Hall of Fraud Top 10
Firm | Assets* |
Madoff Investments LLC | 64,800 |
Stanford Financial Group | 8,000 |
Petters Group Worldwide | 3,500 |
Frankel International & Frankel Chemical | 1,200 |
Satyam Computer Services | 1,000 |
Westgate Capital Management, LLC | 900 |
Capitol Investments USA, Inc | 900 |
Dreier LLP | 700 |
WG Trading Co | 554 |
Weavering Capital | 500 |
*Estimate of alleged Fraud/Investor Losses ($MM) | |
