March 23, 2023

The co-founder of formerly registered investment adviser International Investment Group (IIG), Martin Silver, has been ordered to pay over $2.3 million in disgorgement and over $240,000 in prejudgment interest, which will be deemed satisfied upon the payment of restitution and forfeit of assets ordered in a parallel criminal proceeding against him in the Southern District of New York.  Silver was found to have grossly overvalued the assets in IIG’s flagship hedge fund, and falsely reported that certain loan assets were legitimate and fairly valued when in fact they were not.  SEC

Tagged in: Financial and Investment Fraud,