“It’s now public, Francesco Rusciano of Ponta Negra has formally had his assets frozen by a Federal Judge at the request of the SEC.
‘Rusciano went to great lengths to deceive investors, and the SEC is committed to ensuring that money managers who provide inaccurate information to investors and fail to uphold their fiduciary duties are held responsible for their misconduct,’ said Rose Romero, Director of the SEC’s Fort Worth Regional Office.
Back in March, as a blind item, I reported that this was likely to come down:
Very Suspicious Trading…
…coming out of a New York based hedge fund. They report no monthly losses in two years of currency trading. Such perfecto trading has not been seen since Hillary Clinton did it in cattle futures.
They appear to have offices, or at least a mailing address, on Fifth Avenue in a building once owned by the Shah of Iran’s Pahlavi Foundation. Notorious tenants have included: Marc Rich and Ivan Boesky, though there is zero indication that they have any involvement in what appears to be a Ponzi Scheme.
This one is about to break wide open.
What I didn’t know at the time was that the vice-president’s son and brother are playing cameo roles in this saga. . . .” (Read more from economicpolicyjournal.com)