Wednesday 19 October 2011
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Obalesque.com, 19 Oct 2011
On Tuesday, Singapore’s Monetary Authority (MAS) ordered 3 Degrees Asset Management Pte, a private independent asset management firm based on the island state, to shut down its operations on allegations that its founder Moe Ibrahim had diverted assets.
According to a report from Bloomberg, the regulator and the Finance Minister gave 3 Degrees until November 29th to wind down its operations and withdrew its exempt fund manager status. Full story
Singapore orders hedge fund 3 Degrees to shut down on claims of fraud
Obalesque.com, 19 Oct 2011On Tuesday, Singapore’s Monetary Authority (MAS) ordered 3 Degrees Asset Management Pte, a private independent asset management firm based on the island state, to shut down its operations on allegations that its founder Moe Ibrahim had diverted assets.
According to a report from Bloomberg, the regulator and the Finance Minister gave 3 Degrees until November 29th to wind down its operations and withdrew its exempt fund manager status. Full story
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