The Daily Caveat is written by Michael Thomas, a recovering corporate investigator in the Washington, DC-area. [More]
Got scoops? Comments? Send'em on, care of
1/30/2007
Commodities Manager Faces Charges on Phoney Reports
Commodities Manager Faces Charges on Phoney Reports
The Commodity Futures Trading Commission has filed a case against Anthony Ramunno, Jr., CEO of Roswell, Georgia-based Renaissance Asset Management. Ramunno and Renaissance have been barred from destroying any documents.
Investors had become suspicious that the pool of investment dollars under Ramunno's care wasn't quite the $32 million Renaissance claimed. An audit of the firm only identified about $4million and according to the CFTC complaint, Ramunno subsquently contacted the FBI offices in Atlanta and admitted committing fraud.
Further details here.
You can aslo read the CFTC press release or check out the online complaint (pdf).
-- MDT
Investors had become suspicious that the pool of investment dollars under Ramunno's care wasn't quite the $32 million Renaissance claimed. An audit of the firm only identified about $4million and according to the CFTC complaint, Ramunno subsquently contacted the FBI offices in Atlanta and admitted committing fraud.
Further details here.
You can aslo read the CFTC press release or check out the online complaint (pdf).
-- MDT
Labels: Anthony Ramunno, CFTC, Fraud, Rennaisance Asset Management
Create a Link