Rimu Capital Accuses Adviser of Fraud, Self-Dealing $25 Million

Mon, 06 Jan 2025 06:04:17 +0000

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.