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U.S. probes firm linked with Abramovich over hedge fund investments – NYT – Reuters.com

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Roman Abramovich attends a signing ceremony in Istanbul, Turkey July 22, 2022. REUTERS/Umit Bektas/File Photo

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Aug 9 (Reuters) – U.S. federal authorities are investigating investment advisory firm Concord Management, which oversaw hedge fund investments worth billions of dollars for Russian billionaire Roman Abramovich, the New York Times reported on Tuesday.

The investigation, being conducted by the Securities and Exchange Commission (SEC) and the Federal Bureau of Investigation (FBI), is partly focused on how Abramovich’s associates used several offshore shell companies to invest $8 billion in hedge funds and private equity firms, the report added, citing people close to the firm. https://nyti.ms/3p3x646

The authorities are seeking information about the flow of money to and from more than a dozen shell companies based in havens like the British Virgin Islands and the Isle of Jersey, the NYT report said.

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In June, a U.S. court issued …….

Source: https://www.reuters.com/world/us-probes-firm-linked-with-abramovich-over-hedge-fund-investments-nyt-2022-08-09/

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