Briefing

Canadian hedge fund manager charged in U.S. for blockchain-related securities fraud

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The U.S. Securities and Exchange Commission has charged Toronto businessman Boaz Manor along with New Jersey-based partner Edith Pardo with fraud, alleging the pair bilked over US$30 million from more than 700 U.S. and foreign investors in a fraudulent initial coin offering. (The Logic)

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Talking point: In 2007, the RCMP arrested Manor and his business on fraud charges after his Toronto-based $730-million hedge fund imploded. A subsequent year in jail allegedly failed to strip him of his chutzpah. According to SEC officials, Boaz dyed his hair, grew a beard and passed himself off as Shaun MacDonald, an employee of Pardo’s seeking investors for Pardo’s company, which had purportedly developed blockchain-powered technology for hedge funds.