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Michael W. Berger is wanted for failing to appear at his sentencing hearing on March 1, 2002, in New York City. Berger had pled guilty to charges of securities fraud in November of 2000. In 1995, Berger established a company called Manhattan Investment Fund Ltd. (MIF) in New York City. MIF was a hedge fund opened primarily to offshore investors having a minimum of $250,000 to invest. Berger also established a subsidiary company that was open to investors based in the United States. In approximately April of 1996, Berger began raising money for MIF and invested the money in various trading programs. From 1996 through the end of 1999, MIF raised over $575 million from investors. Beginning in September of 1996, the value of MIF's assets began to deteriorate significantly. Berger concealed the losses of the fund by falsifying statements and other documents which were sent to clients. These altered documents showed that MIF's performance was much better than its actual performance. Altered documents were also forwarded to MIF's auditors. By the end of 1999, Berger had lost more than $400 million of MIF's money entrusted to him by investors. IF YOU HAVE ANY INFORMATION CONCERNING THIS PERSON, PLEASE CONTACT YOUR LOCAL FBI OFFICE OR THE NEAREST AMERICAN EMBASSY OR CONSULATE. |
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