United States: Former Hedge Fund Director Indicted for Financial Investment Consultant Scams

U.S. district attorneys arraigned the previous executive handling director of a hedge fund for financial investment consultant scams in connection with financial investments in the African mining sector. As declared in an indictment submitted in the United States District Court for the Eastern District of New York, Michael Leslie Cohen defrauded a big charitable structure by making product misstatements and cannot reveal disputes of interest about a proposed financial investment in an African mining company. Mr. Cohen supposedly cannot reveal that a person of the sellers of the mining company owed Mr. Cohen many million dollars on an overdue $18 million personal loan. In addition, Mr. Cohen presumably acted in performance with others to cover information of the mining deal and block an SEC examination into the matter.

As an outcome of the supposed misbehavior, Mr. Cohen was charged with one count of conspiracy to devote financial investment consultant scams, one count of financial investment consultant scams, one count of conspiracy to devote wire scams, 4 counts of wire scams, one count of conspiracy to block justice, one count of blockage of justice and one count of making incorrect declarations.