New York Hedge Fund Manager Charged After Faking to be Dead to Investors.
New York hedge fund manager has been charged with stealing money from his investors by the SEC. USA today reported that hedge fund manager Moazzam Mark Malik, originally from Pakistan, overdid it a bit with outrageous claims, saying he was a werewolf in a bid to threaten investors.
He also invented an investment relations manager, woman “Amanda Ebert” to say he was dead in an effort to avoid investor redemptions. The real-life woman in the photo sent to investors said she does not know Malik and never authorized the use of her image in the e-mails.
Although he raised $840,774 from investors, the SEC alleges that his fund never made real investments and never held more than $90,177 in assets as Malik continually withdrew the cash and spent it as his own.
Malik’s fund has changed its name several times since he created it in 2010. Malik initially called it Wall Street Creative Partners before changing it to Seven Sages Capital LP and then American Bridge Investment Group LLC. Most recently it has been known as Wolf Hedge LLC.