the origins of anti-Semitism [Portus’s] Manor fled to Israel before the commission seized Portus’s assets in March 2005. Bloomberg.com April 9, 2005 Portus’s Manor, Mendelson Accused of Fraud by Canada (Update3) By Thom Weidlich and Joe Schneider Sept. 26 (Bloomberg) — Two co-founders of Portus Alternative Asset Management Inc. were charged by Canadian authorities with fraud, money laundering and obstructing justice in an alleged scheme related to the hedge fund firm’s collapse.
Boaz Manor , 33, and Michael Mendelson , 41, of Toronto, were accused of using money from Canadian investors in ways not disclosed to them, the Royal Canadian Mounted Police said today in a statement.
Portus managed C$800 million ($795.5 million) before it shut down. “Any fraud related to investments and the investment industry has a broad impact,” Superintendent Dave Truax , director of the Ontario Provincial Police’s Anti-Rackets Section, said in the statement.”It affects public and private investors and creates a negative perception of the investment industry.”
Portus, founded in 2002, attracted money from 26,000 investors before it closed following inquiries from Ontario regulators about transactions at the firm. About C$18 million remains missing, and C$110 million was improperly used to pay referral fees and cover withdrawals by investors, according to a May report by KPMG LLP, the firm’s trustee. The Ontario Securities Commission alleged that Manor and Mendelson last year failed to act in good faith with clients.
Mendelson also allegedly engaged in unregistered trading and issued securities without filing a prospectus, according to the regulator. Manor fled to Israel before the commission seized Portus’s assets in March 2005. An arrest warrant has been issued for Manor, according to today’s statement. Mendelson’s bail hearing, scheduled for today, was postponed to Oct. 10 [2007], RCMP spokeswoman Michele Paradis said. The two men were also charged with possession of property obtained by a crime.
Manor defrauded foreign investors by not investing U.S. funds deposited with Portus, Canadian police said. To contact the reporters on this story: Thom Weidlich in New York at [email protected] ; Joe Schneider in Toronto at [email protected] .
Apr 2005 In a search for missing millions, an Ontario judge has asked the former lawyers of Boaz Manor, a central figure in the defunct Portus group of investment funds, to relay a request for him to return from Israel to be questioned about his business Adolf Hitler’s famous 1924 prophesy in Mein Kampf: Jewish fraudsters would flee to”Israel” and thumb their noses at the law, safe from extradition Ex-Israeli flees Canada home as hedge fund collapses Portus hedge fund founder Boaz Manor flees
to Israel An economic tale: Job losses, a housing bubble and the safety of Judge orders Portus co-founder to return for KPMG interview In other related developments: Ze’ev Rosenstein, Jewish Drug-Ringleader Caught | Israeli jailed over $17m ecstasy haul History of the mob in Eastern Europe: An Israeli historian on Jewish organised crime in eastern Europe before Hitler’s armies wiped the slate clean »»»» | Slave trade and Lev Trachtenberg | Detectives smash massive ring trafficking in women
| Police smash crime ring suspected of trafficking in women Report slams Israel on sex slavery | Police say they find largest sex-trade ring in years Portrait of a modern slave trader, Ludwig Fainberg Former Israeli minister Gonen Segev arrested for drug smuggling | Segev indicted for smuggling 30,000 ‘Ecstasy’ tablets | Former Israeli minister Gonen Segev investigated also for cheque (check) and credit card frauds | Ex-minister suspected of second drug-smuggling attempt | Los Angeles police
uncover Israeli drug ring, headed by an Israeli national Israel’s links to the global ecstasy trade International Ecstasy smuggling racket: three Israelis arrested Israelis at center of the international Ecstasy drug trade Ecstasy: A gift from “our best friend and ally”Ultra-Orthodox couriers ran drugs for major international ring, reports Reuters international money-laundering ring run by New York Hasidim washed millions of dollars in cocaine proceeds for the Colombian cartels Real History,
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