December 16, 2015

Owen Li, Canarsie Capital, LLC

Financial Fraud


Defendants: Canarsie Capital, LLC
Owen Li

Sanction for a series of false statements made by hedge fund advisor to investors in Canarsie Capital Fund Master, LP, which ultimately collapsed after losing approximately $58 million. Misstatements and omissions included the fund's performance and the advisor's personal investment in a related fund. Also, fictitious trades and other false and misleading statements were reported to prime brokers to avoid margin calls. Toward the end, the fund's portfolio was traded in ways that contravened the offering memorandum.

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