Ann: Funding Update , page-2

Yorkville Advisors (YA) founder and president Mark Angelo charged with fraud by SEC in the USA.
What wonderful people to be getting their hooks into OUR company! They've already dudded Compass Resources shareholders in one of the greatest scandals in ASX/ASIC history.
What due diligence was done before getting mixed up with this lot?

"Media Release by the SEC

FOR IMMEDIATE RELEASE
2012-209

Washington, D.C., Oct. 17, 2012 – The Securities and Exchange Commission today charged a former $1 billion hedge fund advisory firm and two executives with scheming to overvalue assets under management and exaggerate the reported returns of hedge funds they managed in order to hide losses and increase the fees collected from investors.

The SEC alleges that New Jersey-based Yorkville Advisors LLC, founder and president Mark Angelo, and chief financial officer Edward Schinik enticed pension funds and other investors to invest in their hedge funds by falsely portraying Yorkville as a firm that managed a highly-collateralized investment portfolio and employed a robust valuation procedure. They misrepresented the safety and liquidity of the investments made by the hedge funds, and charged excessive fees to the funds based on the fraudulently inflated values of the investments.