abrdn Emerging Markets Equity Income Fund Inc T.AEF

RE:Embezzlement

[nini222]

It's almost unbelievable, if you told me this was possible even 6 months ago I'd say no way. Clearly this was just an entity set up to, as you said, embezzel money from the retail shareholder. How on earth did Melman ever contribute anything to Onex? The guy seems either extremely incompetent or at worst a theif.

The CFO, Ian Kidson, doesn't even bother returning an email or VM in months. Its pretty interesting how little news is out on it also. Very shady all together.

They also said they were applying for financial hardship relief and they expect to get it by March 13...yet no news no press release nothing.

Buyer beware, stay away from these so called private equity managers who really are in the business of charging fees to manage money and get paid even if the shareholder gets screwed over.

SOX2STOX wrote:

This organization includes three separate business units.

 

How was so much debt from just one of those business units piled on to the point that it brought the combined value of all three business units to virtually $zero?

 

And then instead of trying to run the businesses, they quickly initiate a fire sale of those businesses back to the same individuals that sold them, at fraudulently discounted prices?

 

And how did this all happen in such a relatively short period of time, without management demonstrating any sort of responsibility for their actions?

 

How is this not a massive breach of fiduciary duties by management and the board?

 

How could this entire situation not be labeled as "embezzlement"?

 

There are some high profile names associated with this mess, and now they get to add “fraud” to their resume skills.