Don't End Up Like This

Sure a Court appointed receiver may get your money one day - maybe about 3 cents on the dollar after expenses that is:

http://www.cash4titles.com/Receiver_Reports/Receiver_Report__7/receiver_report__7.html

Hedge Fund Jurisdictions

Many of the hedgers are ostensibly based offshore with little or no meaningful recognition.

Places like:

St. Vincent
British Virgin Islands
Turks and Caicos islands
St. Lucia
Cayman Islands

In reality the hedgers use bank accounts in Lichtenstein, Luxembourg, Switzerland, and Gibraltar while claiming legal domicile elsewhere.

However - it is possible to recover assets - the one thing the hedge funds fear is exposure to an accounting.

Merrill doled out multi-billion bonuses before BofA takeover

Merrill Lynch, in an unusual move, expedited bonus payouts by a month last year, doling out billions of dollars to staff just three days before the completion of its takeover by Bank of America, according to report in the Financial Times.
Merrills compensation committee endorsed the bonuses on December 8, three days after the deal was given the go-ahead by Merrill and BofA shareholders. The payments happened on December 29 - far earlier than previous years, sources said, as cited in the FT report.
http://www.ft.com/cms/s/0/378a38d4-e814-11dd-b2a5-0000779fd2ac.html?nclick_check=1>
Merrill Lynch took the unusual step of accelerating bonus payments by a month last year, doling out billions of dollars to employees just three days before the closing of its sale to Bank of America.
The timing is notable because the money was paid as Merrills losses were mounting and Ken Lewis, BofAs chief executive, was seeking additional funds from the governments troubled asset recovery programme to help close the deal.
Merrill and BofA shareholders voted to approve the takeover on December 5. Three days later, Merrills compensation committee approved the bonuses, which were paid on December 29. In past years, Merrill had paid bonuses later usually late January or early February, according to company officials.
Within days of the compensation committee meeting, BofA officials said they became aware that Merrills fourth-quarter losses would be greater than expected and began talks with the US Treasury on securing additional Tarp money.
Last week, BofA said it would be receiving $20bn in Tarp money, in addition to the $25bn that had been earmarked for it and Merrill last year. It was then revealed that Merrill had suffered a $21.5bn operating loss in the fourth quarter.
Despite the magnitude of the losses, Merrill had set aside $15bn for 2008 compensation, a sum that was only 6 per cent lower than the total in 2007, when the investment banks losses were smaller.
The bulk of $15bn in compensation was paid out as salary and benefits throughout the course of the year. A person familiar with the matter estimated that about $3bn to $4bn was paid out in bonuses in December.
Nancy Bush, an analyst with NAB Research, described the size of the 2008 Merrill bonus payments as ridiculous.
BofA said: Merrill Lynch was an independent company until January 1 2009. John Thain (Merrills chief executive) decided to pay year-end incentives in December as opposed to their normal date in January. BofA was informed of his decision.
BofA declined to specify when Mr Thain informed the bank of his decision.
A source familiar with the matter says Mr Thain, in the weeks leading up to the December 8 compensation committee meeting, had been weighing the possibility of requesting a bonus of at least $10m for himself before ultimately deciding against such a move.

Hedge Fund Losses?

Hedge Fund investors worldwide that have suffered losses due to hedge fund misrepresentations about risk and other matters may have a remedy.

The current financial crisis has revealed fraud, corruption, manipulation, and rampant misrepresentation in the hedge fund industry.

These silk stocking grifters must disgorge their ill gotten gains.