Fake BlueCrest Hawking Fake Hedge Fund

Aug 7 2012 | 1:12am ET

It seems there are two BlueCrest Capital Managements in the U.K. right now: the real one and a fake one.

The latter appears to running a boiler-room scam, offering British investors a BlueCrest hedge fund that doesn’t exist. The Financial Services Authority published an alert on the matter in June.

“The entity named above is using the name, address and employee details of an FSA authorized firm,” the regulator wrote. But the real BlueCrest has “no association whatsoever with the organization discussed above that is identifying itself as the ‘BlueCrest Capital Management,’ promoting the ‘BlueCrest New Investment Capital Hedge Fund (NewCap).’”

“The authorized firm BlueCrest Capital Management (UK) LLP advises that there is no such BlueCrest fund named as the “BlueCrest New Investment Capital Hedge Fund (NewCap).”

The real BlueCrest has more than US$30 billion in assets under management.

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