Due Diligence Consulting conducts investment research, executive background checks and private investigations for hedge funds, public companies, private equity firms, family offices, investor groups, law firms, and foundations.
DDC was asked by its client to research a hedge fund in anticipation of a sizable investment by the client. DDC found that the hedge fund was required to register in its state, but did not do so.
Peter Barakett, President
DDC – Due Diligence Consulting LLC
One of our friends reminded DDC yesterday that we’ve now found 3 “bad” financial advisors in the last year or so, 2 of which are based in FL.
By “bad” we mean convicted of fraud, or lied about qualifications / certifications, and/or was not properly licensed.
Peter Barakett, President
DDC – Due Diligence Consulting LLC
DDC was asked to conduct due diligence on a financial advisor in FL who our client was currently using to manage approximately $100 million in assets. DDC found that the financial advisor: was not registered as a financial advisor; was not affiliated with any legitimate financial services firm (broadly defined) since 2005; was convicted twice for domestic violence; had a DUI; was subject to multiple restraining orders; had numerous liens and judgements against him; was evicted twice; was the subject (with various entities) as a defendant in 5 lawsuits alleging fraud / misrepresentation; had over a dozen failed / insolvent companies; most of which were selling annuities or multivitamins, and that the entity “advising” our client was not properly formed / was not in good standing.
Peter Barakett, President
DDC – Due Diligence Consulting LLC
Last week DDC found that a senior executive of a public company had a DUI. From our in-depth research DDC also knew that he had a minority interest in a restaurant in another state. DDC researched the restaurant to see if they served alcohol. They did. So DDC requested copies of the liquor license applications. He lied on two liquor license applications as to his DUI arrest and conviction, a felony offense in that state.
Peter Barakett, President
DDC – Due Diligence Consulting LLC