Rimu Capital Accuses Adviser of Fraud, Self-Dealing $25 Million
6 Jan, 2025
Rimu Capital Ltd. has accused investment adviser Jason Ader and his companies, SpringOwl Asset Management LLC and SpringOwl Associates LLC, of fraud and self-dealing. The complaint, filed in the US District Court for the Southern District of New York, claims Ader misled Rimu into investing $25 million in a SPAC merger with a Philippine resort and casino, while secretly profiting from the deal.
Rimu Capital Ltd. has accused investment adviser Jason Ader and his companies, SpringOwl Asset Management LLC and SpringOwl Associates LLC, of fraud and self-dealing. The complaint, filed in the US District Court for the Southern District of New York, claims Ader misled Rimu into investing $25 million in a SPAC merger with a Philippine resort and casino, while secretly profiting from the deal.
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