Moez Kassam has moved over $20 million into offshore accounts in UAE and Dubai
From Reddit: Our investigation of Moez Kassam over the past 12 months has revealed the following:
- Moez Kassam and his wife had taken a trip to Dubai in early December 2020 in a rush, having just had a child previous to this. It was promoted as an annual trip to the staff at Anson but it was in fact due to the fact that it became known that regulators were looking into insider trading, wire fraud and stock manipulation schemes run by Anson, that were spearheaded by Moez Kassam and run by Puri.
- It was supposed to be a trip for 2-3 weeks that extended for 5 months.
- OSC and SEC had begun investigations into Anson and Moez by this time and subpoenas had been expected.
- There was also a news article that named an unknown hedge fund “Anson” for shorting violations – https://www.theglobeandmail.com/business/article-cormark-securities-agrees-to-pay-sec-penalty-for-mislabelling-hedge/
- OSC started setting up whistle blower programs and many within Anson knew it was due to the illegal activities inside of Anson.
- Moez then stayed in Dubai for a much longer period and moved a total of $20 million USD as it’s a region with no extradition and an easy part of the world to travel to permanently. He was also shopping for homes via a real estate agent there with his wife (expect a move from Moez in the near future)
- He further looked to raise capital there but was not successful.
- He extended the stay as multiple inquiries from the regulators started flowing into the Toronto and Dallas office.
- He engaged counsel in the US and Canada to provide arrest warrant searches to ensure no such warrants were issued.
- Then in mid-March he came into Florida for 2 weeks. Due to his dealings with certain people in the US, there were issues with him staying there and in safeguard for his safety he moved to Bahamas for 2 weeks.
- He then moved to Colorado in an effort to try and negotiate settlements with some people that wanted to possibly sue or hurt him.
- In May due to investor and employee concern about where he had been for 5 months he moved back to Toronto.
- Currently there are a number of charges that his counsel is concerned about including: Wire fraud, money laundering, NAV manipulation, insider trading and stock manipulation.
This is expected to be a 6-12 month investigation and there is a high likelihood that this will turn criminal given the nature of evidence already being gathered.
To read the original message and for more information on Anson Funds visit: https://www.reddit.com/r/BurnedByAnsonFunds/