Federal prosecutors yesterday charged the founder of New York investment firm Premium Point Investments LP and two former members of the firm with inflating the value of assets held by the firm’s hedge funds by more than $200 million, Reuters reported. In an indictment unsealed in Manhattan federal court, prosecutors charged Premium Point founder Anilesh Ahuja, former partner Amin Majidi and former trader Jeremy Shor with securities fraud, wire fraud and conspiracy. The U.S. Securities and Exchange Commission also announced related civil charges against them. The three men were taken into custody yesterday morning and are expected to appear in Manhattan federal court later in the day, according to prosecutors. Premium Point, which specialized in mortgage-related investments through hedge and private equity funds, managed assets valued at more than $5 billion at its peak, according to prosecutors. It filed for bankruptcy in March, court records show.
