Hedge fund manager registration revoked during $60m fraud case
International Investment Group (IIG) is no longer a registered advisor with the Securities Exchange Commission following recent charges of securities fraud for hiding losses in its flagship hedge fund and selling at least $60 million in fake loan assets to clients.
The SEC filed its complaint on November 21 and the last week IIG received notice of its registration being revoked.
Authorities allege that IIG grossly overstated the value of defaulted loans in the fund’s portfolio to conceal losses in its flagship fund. The firm allegedly doctored records to show that the defaulted loans . . .
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