Category: Investment Advisors

Hedge Funds, Interesting Findings..., Investment Advisors, Investment Due Diligence

Hedge fund manager’s tax liens

DDC was engaged to conduct a thorough background review of a prominent hedge fund manager.  DDC found that he had several million dollars in tax liens. DDC believes his prominence led many investors to believe a background check was not worthwhile. In addition, investigators that rely on one federated database or that provide a low cost / less detailed report may not have found the liens because of the unusual way that they were filed. The question now is: would you pay someone to manage your money when they can not manage their own finances?

Peter Barakett, President

DDC – Due Diligence Consulting LLC

DDC Investigations LLC

Investment Advisors

Florida Investment Advisor

DDC was engaged to research a prominent Registered Investment Advisor before our family client engaged him to manage family assets and participate in a private placement that was being offered.  DDC found that the advisor falsely claimed to have graduated from a well known university and that he had misrepresented certain other items in his professional bio.

Peter Barakett, President

DDC Investigations LLC

DDC – Due Diligence Consulting LLC

Interesting Findings..., Investment Advisors

“Bad” Financial Advisor

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