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Some investors are questioning the lavish pay doled out to managers at the investment vehicle set up by the ex-Barclays chief executive. Local regulators have delayed a key Atlas Mara hire. The vehicle’s publicly traded shares have nose dived. And corporate-governance experts are criticizing a personal shareholding by Mr. Diamond in one of Atlas Mara’s acquisition targets, which wasn’t fully disclosed until months after Atlas Mara offered to buy it.