Are you a wealthy investor whose money is tied up with some hedge fund manager doing god knows what with it? Have the events of last year, when it turned out basically everyone was running a Ponzi scheme left you freaked the fuck out? Maybe a little bit scared shitless? No? Check out the picture at left....how about now? What if we told you that's what your money manager's doing when he claims to be on the desk? What if that is the desk, and entire operation they've got gone on up in CT is just one big drag show? Quaking in your boots, right? Thinking you need a little protection? Good. Excellent, even. Rudy Giuliani has your right where he wants you.
Capitalizing on the panic coursing through the ranks of the ultra-wealthy in the wake of the Bernard Madoff Ponzi scheme scandal, former New York City Mayor Rudolph Giuliani is joining forces with Nine Thirty Capital in a new venture to vet hedge fund managers for fraudulent activity, according to an announcement being released today.
"It's no wonder that investors are extremely wary about where they should invest their money and are asking, 'Who can we trust?' " Giuliani said. "More than ever before, investors need to be sure that the people and funds they entrust with their assets aren't just saying all the right things, but are actually doing what has been promised."
The new joint venture's services will be offered to Nine Thirty Capital's clients as a three-part security system. Hedge fund managers hired to invest money for the management firm's clients will be subjected to personal background checks that include everything from liens and bankruptcies to background histories and associations.
An "operational" review will determine whether funds are actually investing according to their stated parameters and will include independent checks of third-party relationships, including those with primary brokers and auditors. The joint venture will then monitor funds on an ongoing basis.