Publicly available records published on May 22, 2017 indicate that the Securities and Exchange Commission (SEC) has filed charges against Massachusetts-based hedge fund Manager Yasuna Murakami in connection to alleged Ponzi-like payments and misappropriation of customer funds. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Murakami.
According to the SEC, Yasuna Murakami “misappropriated more than $8 million for business and personal expenses and made approximately $1.3 million in Ponzi-like payments to earlier investors as purported investment gains.” His business partner, Avi Chiat, has also been charged. The complaint alleges that Mr. Chiat “allegedly helped Murakami raise money from investors while providing fabricated account statements that grossly overstated investment performance while investors were losing millions of dollars due to unprofitable trading and Murakami’s misappropriation of funds.” Mr. Murakami has also been charged by the US Attorney’s Office for the District of Massachusetts with one count of wire fraud.
Mr. Murakami’s hedge fund, MC2 Capital Management LLC, has been identified in the complaint. He and Chait were charged with “aiding and abetting MC2 Capital Management, LLC’s and MC2 Canada Capital Management, LLC’s violations of the Investment Advisers Act,” according to an SEC release.
A Reuters report states the following: “According to the criminal complaint, Murakami schemed to defraud investors in a hedge fund he set up in 2011 that allowed U.S. investors to gain exposure to a fund overseen by Toronto-based Donville Kent Asset Management. After soliciting money from investors for MC2 Capital Canadian Opportunities Fund, Murakami misused investments for personal expenses like international travel, student loan payments and high-end department stores, the complaint said. He also used investor funds to make personal investments in the MC2 Canadian fund and to pay for a black Nissan GT-R sports car, according to the complaint.” He also allegedly used funds from the Canadian Opportunities Fund to pay investors in other MC2 hedge funds, ultimately defrauding at least fifty investors, according to the SEC’s complaint.
If you have lost money investing with Yasuna Murakami or MC2 Capital Management, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.