According to an FBI press release five church leaders from Long Island plead guilty to consipracy to commit securities fraud in connection with two hedge funds, Logos Multi-Strategy I, LP and the Donum Fund, LP.
The press release states that the defendants admitted that they conspired to market the hedge funds to prospective investors, including numerous members of their own
church, employing material misrepresentations and omissions contained in private placement memoranda and other marketing materials concerning the management, supervision, and historical and expected trading performance of the funds. In total, the defendants collected approximately $9.3 million in investments in the Logos Fund and approximately $3 million in investments in the Donum Fund.
This is yet another in a series of private placement fraud allegations that are being pursued by regulators. Investors in these funds are undoubtedly seeking securities attorneys to prosecute civil claims to recover their losses. More>>>
The press release states that the defendants admitted that they conspired to market the hedge funds to prospective investors, including numerous members of their own
church, employing material misrepresentations and omissions contained in private placement memoranda and other marketing materials concerning the management, supervision, and historical and expected trading performance of the funds. In total, the defendants collected approximately $9.3 million in investments in the Logos Fund and approximately $3 million in investments in the Donum Fund.
This is yet another in a series of private placement fraud allegations that are being pursued by regulators. Investors in these funds are undoubtedly seeking securities attorneys to prosecute civil claims to recover their losses. More>>>
