Alan

“The SEC has subpoenaed Bank of America, Citi, Goldman Sachs and JPMorgan Chase as part of an early-stage investigation into the near-collapse of Situational Awareness, the AI-focused hedge fund that saw roughly 67% of its portfolio value wiped out in July, the New York Times reported Monday, citing three people briefed on the outreach. The subpoenas seek details on the timing of Situational Awareness’s trades and its communications with lenders about borrowed money, or leverage, according to the Times…”

Prosecutors investigating whether Mark Walter’s firms hid self-dealing loans Prosecutors are looking at four middleman companies that helped route billions in loans from Mark Walter’s insurance companies back to other businesses he controls (including parts of his Guggenheim empire and sports holdings like the Dodgers) “…The main entities investigators have narrowed in on, the people said, are ABS Capital, a Miami outfit founded by two former Guggenheim executives; Amistad Financial, an investment company that owns EquiTrust, a life insurer once controlled by Guggenheim and Walter; Bradford Allen, a Chicago-based commercial real-estate broker with long ties to Guggenheim; and Hudson Trading, another Chicago firm….”