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Serious Fraud Office tightens net on boutique Kiwi fund Penrich Capital
3 Mar, 2021 04:00 PM
4 minutes to read
A former treasury economist whose purported $400m hedge fund collapsed and is now the subject of a Serious Fraud Office probe is expected to soon learn his fate. Penrich Capital, a boutique fund run out of the Cayman Islands by Christchurch man - and one-time London investment banker - Kelly Tonkin, suddenly imploded last March as liquidators were appointed and investors scrambled to quantify and recover their losses.
The SFO opened an investigation into Penrich in April, and an update to investors from Cayman liquidators R&H Restructuring said this probe was into the activities of the former director of the company, Mr Kelly Tonkin and the SFO had advised them that those investigations are due to be finalised shortly.
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