Texas Fund Manager Admits $31 Million Fraud in Email Mea Culpa

The boss of a small Texas-based investment firm said he has closed the business and called in federal investigators after admitting to fraudulent actions that led to the loss of almost all the money under management. Chris Bentley, the founder and chief executive officer of Bellatorum Resources LLC, said in a telephone interview Thursday he’s working with the U.S. Federal Bureau of Investigation and Department of Justice. While Bellatorium is a relative minnow in the investment world, having raised $31 million for its most recently active funds, the nature and apparent candor of Bentley’s confession is startling. … (full story)

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