K1 fund (original) (raw)

The K1 fund was a British Virgin Islands based hedge fund, initially marketed to and invested in by mainly German-based private investors, and latterly a series of global banks. With an estimated size of 378million/£249millionand378million/£249million and 378million/£249millionand1Bn under management, it collapsed in 2008. It is estimated by administrators Grant Thornton that liquidated funds able to be returned to investors are zero. It is suspected by German regulators BaFin to be a ponzi scheme.