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Alternative Market Briefing

Judge requests new trial for Premium Point Investment CEO and trader

Tuesday, December 21, 2021

B. G., Opalesque Geneva:

U.S. District Judge Katherine Polk Failla said on Friday that a hedge fund executive should get a new trial because prosecutors withheld evidence that could have helped him in a 2018-2019 case. The hedge fund executive in question is Anilesh "Neil" Ahuja, former founder and CEO of now-defunct New York-based Premium Point Investments L.P. (PPI). Also involved is former bond trader Jeremy Shor.

Last year, Ahuja alleged that a federal prosecutor had hidden evidence in his case.

According to Law360.com, the judge delivered a scathing rebuke to prosecutors for giving misleading and flat-out incorrect answers about what they had. She found that prosecutors had deprived Ahuja and Shor of a fair trial by repeatedly withholding evidence and making misleading and erroneous statements that were later disproved by internal government emails.

Back story

In 2008, Ahuja co-founded PPI, where he was the CEO and CIO. Up until then, he had been the global head of Deutsche Bank's mortgage-backed securities group. PPI managed hedge funds focused primarily on structured credit products, including residential mortgage-backed securities (RMBS). PPI's flagship mortgage......................

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