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Audrey Strauss, the Attorney for the United States, Acting Under Authority Conferred by 28 U.S.C. § 515, announced that ANILESH AHUJA, a/k/a "Neil," the founder, chief executive officer, and chief investment officer of Premium Point Investments L.P. ("PPI"), was sentenced to 50 months in prison in connection with his conviction following a jury trial for engaging in a securities mismarking scheme from 2014 to 2016. The jury convicted AHUJA and Jeremy Shor, a former trader at PPI, on securities fraud-related offenses relating to their participation in a scheme to inflate the net asset value ("NAV") reported to investors for hedge funds managed by PPI by more than $100 million. AHUJA was sentenced by U.S. District Judge Katherine Polk Failla, who presided over the six-week jury trial.
Ms. Strauss said: "Anilesh Ahuja, founder of Premium Point Investments, was convicted of participating in a scheme to mismark securities and thereby mislead investors as to the true value of the funds that Premium Point managed. Ahuja conspired with others in his company and corrupt brokers to fraudulently inflate the value of the assets under their management, which in turn allowed them charge higher fees and avoid redemptions by investors who otherwise would have pulled their money from Premium Point. The substantial prison term imposed on Ahuja appropriately holds him accountable for his criminal acts."
According to the Indictment, evidence...................... To view our full article Click here
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