United States Attorney for the Southern District of New York, Jamie McDonald, Assistant Director in Charge of the New York Field Office of the Federal Bureau of Investigation (“FBI”), James C. Barnacle, Jr., and the Inspector in Charge of the New York Office of the U.S. Postal Inspection Service (“USPIS”), Ketty Larco-Ward, announced the unsealing of a Complaint charging VUK VUKOVIC, founder of the hedge fund Oraclum Capital LLC (“Oraclum”) and Chief Executive Officer and Chief Investment Officer of the Orca Bason Fund, L.P. (the “Orca Bason Fund” or the “Fund”), with securities fraud and wire fraud. VUKOVIC was presented before U.S. Magistrate Judge Jennifer E. Willis.
“We will continue working with our committed law enforcement partners to hold accountable those who use deception to put investors’ money at risk,” said U.S. Attorney Jamie McDonald. “As alleged, Vuk Vukovic attracted investors to his fund and lulled them into keeping their money invested by reporting high rates of return that were not real. Investors deserve honest and accurate information when deciding where to put their hard-earned money.”
“Vuk Vukovic allegedly used interstate commerce to carry out a deceptive scheme involving the purchase and sale of securities,” said FBI Assistant Director in Charge James C. Barnacle, Jr. “These allegations represent a serious breach of market integrity, and the FBI remains committed to enforcing securities laws to protect investors.”
“When individuals allegedly mislead investors and defraud them, the consequences extend far beyond their immediate crimes—they threaten the economic stability and livelihoods of American citizens,” said USPIS Inspector in Charge Ketty Larco-Ward. “While investing always carries inherent risk, a breach of trust adds an unacceptable layer of deception. Postal Inspectors remain steadfast in holding accountable anyone who violates protective laws and compromises that trust. We urge the public to recognize the red flags of fraud, resist high-pressure tactics, and carefully assess every investment opportunity before acting.”
As alleged in the Complaint unsealed in Manhattan federal court:(1)
Oraclum is a New York-based hedge fund that operates and manages the Orca Bason Fund. The Orca Bason Fund purports to make investment decisions “using wisdom of crowds and a network analysis of social media bubbles to predict where markets will end up.” Since at least 2024, however, VUKOVIC has engaged in a scheme to obtain investor money by misrepresenting the Orca Bason Fund’s returns to investors. VUKOVIC’s misrepresentations include: sending false monthly account statements to investors that show their investment in the Orca Bason Fund earning greater returns than it actually did; and sending falsified brokerage account statements to a potential investor reflecting a higher net asset value and greater returns than actually existed.
VUKOVIC, 38, of New York, New York, is charged with one count of securities fraud and one count of wire fraud, each of which carries a maximum sentence of 20 years in prison.
The maximum sentences in this case are prescribed by Congress and provided here for informational purposes only, as any sentencing of the defendant will be determined by the judge.
Mr. McDonald praised the outstanding work of the FBI and the USPIS. Mr. McDonald further thanked the U.S. Securities and Exchange Commission.
This case is being handled by the Office’s Securities and Commodities Fraud Task Force. Assistant United States Attorneys Maggie Lynaugh and Kyle Wirshba are in charge of the prosecution.
The charges contained in the Complaint are merely accusations, and the defendant is presumed innocent unless and until proven guilty.
As the introductory phrase signifies, the entirety of the text of the Complaint and the description of the Complaint set forth herein constitutes only allegations and every fact described should be treated as an allegation.
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