Hedge fund fraudsters beware: the UK’s Serious Fraud Office disclosed yesterday that the agency is building a Flux Capacitor warning system* to help it spot hedge fund fraud.
Reuters reports that Richard Alderman, head of the SFO, did not provide details but stated that “[w]e’re looking in particular at a system of red flags to give warnings in respect of hedge funds. We want to be able to help the market, as it recovers, in knowing what are the features of hedge funds that can give rise to fraud.”
* Final hedge fund fraud warning system may or may not resemble the Flux Capacitor from Back to the Future (pictured).
