Premium Point Co-Founder Ahuja Accused of Inflating Assets
- Charges announced a year after mismarking probe revealed
- Trio accused of inflating assets by more than $200 million
Photographer: Kiyoshi Ota/Bloomberg
This article is for subscribers only.
The co-founder of Premium Point Investments LP, a portfolio manager at the hedge fund and a trader were charged with inflating the value of securities in their portfolio to make the holdings appear more attractive to potential investors and discourage clients from withdrawing funds, federal prosecutors said.
The hedge fund wasn’t named by prosecutors in an indictment. But the co-founder, Neil Ahuja; the portfolio manager, Amin Majidi; and the trader, Jeremy Shor, all worked at Premium Point, which wound down last year amid an investigation by the U.S. Securities and Exchange Commission into valuations the hedge fund manager gave to some of its assets. The SEC also sued Premium Point on Wednesday.