Premium Point, Its Founder Anilesh Ahuja, Former Partner Amin Majidi, and Former Trader Jeremy Shor Allegedly Inflated Firm Assets by Over $200 Million
New York investment firm Premium Point Investments LP, its founder Anilesh Ahuja, 49, his former partner Amin Majidi, 52, and former Premium Point trader Jeremy Shor, 46 allegedly inflated the value of the firm’s assets held by the firm’s hedge funds by over $200 million, according to Court Reports from New York under review by attorney Alan Rosca.
Attorney Alan Rosca, of the RoscaLaw LLC firm, is investigating activity related to Premium Point’s alleged asset inflation. Investors who believe they may have lost money in activity related to Premium Point’s alleged asset inflation are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.
An indictment was recently unsealed in Manhattan federal court wherein prosecutors charged Ahuja, Majidi, and Shor with alleged securities fraud, wire fraud and conspiracy, according to the aforementioned Court Reports. In addition, the SEC also made an announcement of related civil charges against Premium Point and the aforementioned individuals.
Ahuja, Majidi, and Shor were all allegedly taken into custody recently and are believed to be appearing in Manhattan federal court soon, according reports from New York
Ahuja, Majidi, & Shor, from 2014 to 2016, Allegedly Marked up the Value of Assets held by Premium Hedge Funds in Financial Reports to Investors & Potential Investors
Ahuja, Majidi and Shor, from about 2014 to 2016, allegedly concocted a scheme wherein they purportedly marked up the value of assets held by Premium Point-operated hedge funds via financial reports to investors and potential investors, according to the indictment under review by attorney Alan Rosca.
Said indictment goes one to detail how the aforementioned defendants obtained the inflated values by securing fraudulent quotes on securities from “corrupt brokers,” the indictment notes.
After its auditor questioned its valuations in 2015, Premium Point told investors it had overvalued all of its funds by 13 percent to 15 percent from September 2015 to March 2016, after its auditor questioned its valuations in 2015, according to reports from New York.
The so-called “mismarking” was allegedly even more serious in Premium’s flagship mortgage credit hedge fund, which was mismarked by 24 percent, and dated back to at least January 2014, according to Court Reports.
Premium Point reportedly specialized in mortgage-related investments through hedge and private equity funds, managed assets valued at more than $5 billion at its peak, according to reports from New York, and filed for bankruptcy in March, court records show.
Finally, Ahuja reportedly founded the firm in 2008 after a four-year stint as the head of the mortgage-backed securities group at Deutsche Bank AG.
Securities Lawyer Investigating
The RoscaLaw firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Premium Point’s alleged asset inflation. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions, and has helped recover tens of millions of dollars on behalf of investors.
Investors who believe they lost money as a result of Premium Point’s alleged asset inflation may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at firstname.lastname@example.org, or through the contact form on this webpage.