Liechtenstein Justice Minister Worked For K1

Dec 1 2009 | 1:19pm ET

A senior member of Liechtenstein’s government spent six months on the sales staff of Germany’s K1 Group, whose founder is being investigated for fraud.

Aurelia Frick was a director of K1 Fund Distribution and sat on K1’s board of directors from Aug. 6 through Dec. 29 last year, the principality said today. She resigned after just four months because her questions about the fund of hedge fund group’s activities were not satisfactorily answered, a spokesman said.

K1 Fund Distribution is the London-based sales arm of K1.

Frick has served as foreign, justice and cultural affairs minister for the tiny country since March.

Frick’s is the second governmental link to the K1 scandal: Founder Helmut Kiener, who remains in custody on suspicion of fraud and breach of trust, tried to win his release by claiming he was a diplomatic attaché for the west African nation of Guinea-Bissau.

Kiener may have defrauded K1’s banks and brokers of about US$400 million, according to German prosecutors. Two of his alleged associates were arrested in the U.S. after being nabbed in a money-laundering sting operation.

Like the U.S. and Germany, Liechtenstein is conducting a criminal investigation into K1. The country is also assisting the German probe.


In Depth

Q&A: Open Season For Closed-End Funds

Aug 29 2014 | 10:00am ET

When Maury Fertig and Bob Huffman, former Salomon Brothers coworkers, launched...

Lifestyle

Och Funds Women In Finance Initiative At U-M

Aug 28 2014 | 3:01pm ET

Och-Ziff Capital founder Daniel Och and his wife have made a "generous donation"...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

The time was right

Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.