Ex-Julius Baer Banker & Ex-JP Morgan Investment Manager Sentenced to Total of 11 Years Jail for Defrauding Libya Sovereign Wealth Fund, Extracted Dishonest Investment Fees of More than $11 Million
23rd February 2023 | Hong Kong
The UK court (London’s Southwark Crown Court) has sentenced ex-Julius Baer banker (Frederic Marino, 7.5 years jail) & ex-JP Morgan Investment Manager (Yoshiki Ohmura, 3.5 years) to a total of 11 years in jail for defrauding Libya Sovereign Wealth Fund, extracting dishonest investment fees of more than $11 million. Frederic Marino as CEO of FM Capital Partners (FMCP), had managed $800 million for Libya Africa Investment Portfolio (LAIP) while Yoshiki Ohmura (ex-global head of structured investments at Julius Baer company Global Asset Management) had helped to extracting dishonest investment fees. Aurelien Bessot, who is a business partner of Frederic Marino at FM Capital Partners (FMCP), had pleaded guilty 2 years prior to trial and sentenced to 15 months jail.
“ Ex-Julius Baer Banker & Ex-JP Morgan Investment Manager Sentenced to Total of 11 Years Jail for Defrauding Libya Sovereign Wealth Fund, Extracted Dishonest Investment Fees of More than $11 Million “
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Libya Africa Investment Portfolio (LAIP)
Libya Africa Investment Portfolio (LAIP) is in the business of international investment with the strength of the Libyan economy at its core. The establishment acts as a sound private equity fund, following international standards and moving towards the main fund-building objective related to capital gain or dividend yield. In 2011, the establishment experienced a colossal shift in structure and practice as a result of a change in management. As of the said year, the creation of policies and carefully devised strategies came into play, slowly but surely building a valuable financial system as a key part of the future generation of Libya through the creation of sustainable financial returns.
LAIP seeks out opportunities that guarantee growth as well as long-term partnerships using various investment strategies. We focus on industries that have proven competitive and comprise of successful models with strong foundations that other business and clusters can be built around.
To ensure we make the right investments in the right places, we proactively analyze industry investment strategies with the guidance of the world class, leading experts in their fields. This approach has made us a leader in the region and helped LAIP make informed and thoroughly researched decisions based on expert analysis.
Prior to making an investment, we take a number of fundamentals into consideration, namely:
- The nature of the asset class
- The risk level attached to the investment, including the acceptable risk level of the country and its currency
- Results of targeted sector and entity analyses (performance of company management).
We also look at global trends and economic cycles to identify opportunities via numerous factors, such as:
- Sector
- Timeliness
- Risk level
- Added value
- Asset class
LAIP also considers its current portfolio when making these decisions by identifying asset classes and sectors that balance the portfolio and look at possible synergies to boost growth across the portfolio. LAIP also outlines potential exit strategies as part of its commitment to due diligence. We ensure maximum returns for investors through unifying management and shareholder objectives, promoting expert management and implementing business performance improvement and growth programs.
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