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Whistle-Blowers Sparked Probe at Trade-Finance Fund Firm Barak


Whistle-Blowers Sparked Probe at Trade-Finance Fund Barak
Bloomberg
3 days ago
Nishant Kumar
© Bloomberg
Figures are displayed on an electronic stock board at the Stock Exchange of Thailand (SET) in Bangkok, Thailand, on Friday, June 22, 2018.
(Bloomberg) Auditors are probing whistle-blower complaints about Barak Fund Management as the firm seeks approval to restructure a $1 billion trade finance fund that’s left investors stuck with hard-to-sell assets.
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Some employees lodged complaints with the Mauritius-based investment firm last year, according to people familiar with the matters. Two raised concerns about the quality of collateral linked to some loans that it made, while another warned about the overvaluation of some assets, said the people, who asked not to be named because the details are private. ....

Jean Craven , Macintyre Hudson , Catherine Mcilraith , World Bank Group , Botswana Public Officers Pension Fund , Barak Fund Management , Greensill Capital , Barak Chief Investment Officer Prieur , Public Officers Pension Fund , ஜீன் க்ரேவந் , ம்யாகிஂடிர் ஹட்சன் , உலகம் வங்கி குழு , போட்ஸ்வானா பொது அதிகாரிகள் ஓய்வூதியம் நிதி , பராக் நிதி மேலாண்மை , பராக் தலைமை முதலீடு அதிகாரி ப்ரீயர் , பொது அதிகாரிகள் ஓய்வூதியம் நிதி ,

UPDATED with Barak response: SA's Barak Fund crumbles in Greensill fashion


Australian banker Lex Greensill’s Greensill Capital, a start-up that provided short-term cash advances and spun off its loans into bond-like securities has filed for insolvency protection. This after bondholders Credit Suisse stopped investors from moving money in or out of $10bn in supply-chain investment funds when Greensill lost coverage from credit insurers. Backers such as German municipalities and Japan’s SoftBank stand to lose billions. Now South Africa’s Barak Fund, which has a strikingly similar business model to Greensill, is crumbling too, according to the Bloomberg article below. – Melani Nathan
Another trade finance fund implodes in echoes of Greensill ....

Jean Craven , Nishant Kumar , Melani Nathan , Macintyre Hudson , Lex Greensill , Credit Suisse Group , Credit Suisse , Barak Fund Management , Africa Barak Fund , Greensill Capital , South Africa , Barak Fund , Suisse Group , South Africa Based , Structured Trade Finance Fund , Investment Funds , Prieur Du Plessis , Business News , ஜீன் க்ரேவந் , நிஷாந்த் குமார் , மெலனி நாதன் , ம்யாகிஂடிர் ஹட்சன் , கடன் ஸ்யூயி குழு , கடன் ஸ்யூயி , பராக் நிதி மேலாண்மை , பராக் நிதி ,