Hedge Fund Collapse Sparks Global Hunt for Almost $600 Million

David Choi’s hedge fund seemed too good to pass up, with Mars FX US LP posting annual gains that averaged 19% and zero monthly losses. In the end, it was too good to be true.

Choi’s fund is now bankrupt, almost $600 million has gone missing, and a global hunt is underway for the money and whom to blame. A criminal fraud inquiry has been opened in the US, and lawsuits are pending in at least three nations, with some alleging forgery and money laundering. The blue-chip auditing firm of Deloitte is being sued after signing off on the fund’s ...