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Investors apply to wind-up Cayman Islands fund controlled by US-based Mark Angelo, allege fraud

December 22, 2011 by David Marchant

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  • Investors in YA Offshore Global Investments Ltd., f.k.a. Cornell Capital, allege fraud, stock manipulation and self-dealing
  • Alleged misconduct involves several penny stocks that are publicly-traded in the USA
  • Fund directors identified as Mark Angelo, Matthew Beckman, and Gerald Eicke
  • Fund specializes in "death spiral" financing

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Investors have applied to wind-up a Cayman Islands fund hedge fund - YA Offshore Global Investments Ltd. - that  specializes in 'death spiral financing' for U.S. penny stocks, alleging fraud, stock manipulation and self-dealing by insiders, who include controversial New Jersey-based former stock broker Mark Angelo.

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