Investors seem to be having a hard time getting their money back from the US-headquartered ‘alternative investment fund’. Several government agencies are taking note.
Does the name Anurag Bhatia ring a bell? You probably heard of him when he was arrested in 2020 for allegedly defrauding people through Minance, a Bengaluru-based wealth management fund. Bhatia, however, remained undeterred. After being released on bail soon after, he went on to start an “alternative investment fund” named Hedonova the same year. It turns out that this fund is nothing more than a sophisticated scam.
In the four years since it was founded, the fledgling fund—which was earlier headquartered in Delaware but now has its “principal office” in Idaho—has grown into a global enterprise that has …
Sethu writes on all things technology at The Morning Context. He previously worked as a senior sub-editor at Indian Express.
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