(Bloomberg) Two high-profile hedge funds accused one of India’s biggest real estate developers of defrauding its foreign investors out of as much as $1.5 billion, potentially one of the largest private equity scams ever. IREO Management engaged in a billion-dollar criminal conspiracy involving shadow companies, dumped documents and “astonishing theft,” according to Axon Capital and Christopher Hohn’s Children’s Investment Fund Foundation.
TCI, Axon Accuse India Real Estate Fund of $1.5 Billion Fraud
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