Jul
25
The $1.5 Billion Real Estate Wager That Went Horribly Wrong
By-
Axon Capital, CIFF say they are victims of a massive fraud
- Dispute is playing out in courts in India and Mauritius
The $1.5 billion India wager that went horribly wrong for some of the world’s biggest hedge funds began with a tantalizing offer.
It was a rare chance to invest in prime real estate in one of the fastest-growing economies on Earth. The private equity style venture — steered by a politically connected Indian businessman, a former Goldman Sachs Group Inc. partner, and a one-time principal at Michael Dell’s investment firm — promised to deliver outsized returns with a unique combination of local expertise and world-class corporate governance…
