Yasuna Murakami Allegedly Ran a Boston-area Ponzi Scheme through MC2 Capital Canadian Opportunities That Allegedly Brought in $15.3 Million from 47 Investors; Investor Right Attorneys Investigating
Yasuna Murakami allegedly ran a Ponzi scheme which purportedly brought in $15.3 million from 47 investors, according to a Complaint from the Massachusetts Division of Securities currently under review by Peiffer Rosca Wolf attorneys Alan Rosca, Joe Peiffer, and James Booker.
Several Peiffer Rosca Wolf securities practice lawyers have begun investigating investment recovery options on behalf of investors in Murakami – operated hedge funds such as MC2 Capital Canadian Opportunities Fund, MC2 Capital Partners, and MC2 Capital Value Partners. Investors who believe they may have lost money in Murakami’s MC2 Capital Canadian Opportunities Fund and his other hedge funds are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.
Murakami, between October 3, 2007 and August 23, 2011, allegedly transferred over $1,000, 000 from the Partners Fund trading account to bank account in the name of the Partners Fund and MC2 Capital, the Complaint notes.
The tale of MC2 Capital Partners fund kicked off in 2007 when Murakami started his hedge fund with the MC2 Capital Partners fund, the Complaint notes.
MC2 Capital Partners Fund was allegedly marketed to friends and family members and went on to take on over $3.5 million, the Complaint states.
By late 2008, however, MC2 Capital Partners allegedly held a negative balance of about $2.4 million which triggered a margin call that wiped out investors’ equity, according to statements from Galvin.
MC2 Capital Value Partners Fund, a second fund, is also allegedly faced a similar situation, according to said Complaint from the Massachusetts Division of Securities.
Most of the funds’ losses, however, allegedly took place in the third fund, MC2 Capital Canadian Opportunities, a fund that was initially managed by a joint venture between Murakami and a Canadian hedge fund management company, according to the Complaint.
The Peiffer Rosca Wolf lawyers are particularly interested in talking to investors in MC2 Capital Canadian Opportunities.
Investor cash was allegedly used to pay personal expenses such as luxury hotels, liquor stores, fancy cars, American Express bills, and high-end shops such as Nordstrom, Saks Fifth Avenue, according to statements from Galvin’s office.
Galvin also describes the case as representing “a classic example of a shell game of moving the money from one investor to another with some left over to fatten the coffers of the money manager”, according to reports from Massachusetts.
The Peiffer Rosca Wolf securities lawyers are investigating Yasuna Murakami and his MC2 Capital’s alleged Ponzi scheme.
Murakami Allegedly Made Misappropriations for Personal Benefit and Allegedly Misled New Clients to Bring in More Money
Yasuna Murakami has allegedly lost a significant portion of investor money, including the vast majority of the cash invested in MC2 Capital Canadian Opportunities fund, according to a Complaint from the Massachusetts Division of Securities presently being examined by attorneys Alan Rosca and James Booker.
Murakami allegedly failed to make the proper disclosures to new investors – including investors in MC2 Capital Canadian Opportunities fund – that substantially all the investment plays he made for his earlier hedge funds were not met with success, according to the Complaint.
Furthermore, after losing the investment funds he managed in his earlier hedge fund, MC2 Capital Partners, Murakami allegedly started MC2Capital Value Partners Fund in 2009, the Complaint states.
What is more, Murakami has also allegedly misled new clients to bring in more cash, by not disclosing to them his past failures with earlier hedge funds he managed, and has subsequently misappropriated millions of dollars for personal gain, the Complaint states.
For example between November 10, 2008 and September, 2011, $643,438.19 was allegedly transferred from the Value Fund trading account to bank accounts in the name of at least one MC2 entity, the Complaint states.
Murakami also allegedly sent personal e-mails to potential investors. For example, on October 29, 2010, he sent an e-mail which allegedly boasted of the Fund’s “exceptional track record” and cited returns of 0.86% in 2008, 10.29% in 2009 and 6.31% year-to-date through the third quarter of 2010, the Complaint notes.
Murakami also allegedly failed to disclose to new investors – including investors in MC2 Capital Canadian Opportunities fund – that substantially all the investment bets he made for his earlier hedge funds were unsuccessful. After posting losses in his earlier hedge fund, MC2 Capital Partners, Murakami allegedly started MC2Capital Value Partners Fund in 2009, the Complaint states.
MC2Capital Value Partners Fund, similar to its predecessors, allegedly lost serious amounts of cash, and he allegedly started a third similarly named fund while also purportedly partnering with a successful Toronto firm in an attempt to attract and recruit more investors, the Complaint reports.
Over the lifetime of the Canadian Fund, Murakami allegedly took in at least $10,000,000 from at least 38 individuals who intended the money to be invested in the Canadian Fund, the Complaint states.
Only about $8,289,000, however, was actually invested into the Canadian Fund’s trading account, the Complaint notes.
Next, Murakami later made a deal with a Toronto – based hedge fund management company to start MC2 Capital Canadian Opportunities Fund in 2011, according to a statement from Galvin.
The Canadian hedge fund management firm allegedly was vital in getting investors to throw in money, including a Boston– area institutional investor, according to the Massachusetts Division of Securities.
By May of 2015, however, the Canadian hedge fund management firm allegedly cut ties to the MC2 entities, the Complaint states.
Unfortunately, revealing signs of a Ponzi scheme allegedly began to emerge.
For example, Galvin further alleges that Murakami allegedly misappropriated investor money from the Canadian fund and used it to pay promised returns or redemptions to investors in the other two MC2 funds, the Complaint states.
Based on the aforementioned actions the Massachusetts Division of Securities has recommended that Murakami “cease and desist” all actions and provide and account for all losses attributed to the alleged wrongdoing.
What is more, the Division is also asking that Murakami disgorge all profits, the Complaint reports.
William Galvin and the Massachusetts Division of Securities are now looking to potentially bar Yasuna Murakami and his MC2 Capital’s hedge funds, the Complaint states.
Securities Lawyers Investigating
The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of Ponzi schemes and are currently investigating Yasuna Murakami’s alleged Ponzi scheme. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of Yasuna Murakami’s alleged Ponzi scheme – and in particular investors in the MC2 Capital Canadian Opportunities fund – may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.
from Investment Fraud Lawyers | Investor Loss Recovery http://ift.tt/2k4MtbA
via Securitieslitigatos.com
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