‘Greed and Lies on Wall Street’ Is Opening Argument in Bond-Marking Trial
- Premium Point’s Ahuja inflated assets by $200 Million: U.S.
- Prosecutors describe a scam to get -- and keep -- investors
Anilesh "Neil" Ahuja arrives at federal court in New York, on June 3.
Photographer: Natan Dvir/BloombergThis article is for subscribers only.
Premium Point Investments co-founder Anilesh “Neil” Ahuja and a trader led a two-year scheme overvaluing the firm’s mortgage bonds by more than $200 million to attract new investors and keep current ones, prosecutors said at the start of their fraud trial.
Ahuja, a former head of Deutsche Bank’s global residential mortgage-bond trading, and trader Jeremy Shor are accused of mismarking securities in the firm’s funds to inflate their value, allowing them to charge higher management and performance fees and ward off withdrawals.