Wealthy fund manager, 62, is forced to quit firm where he worked for 36 years
Added 10-21-19 02:36:03pm EST - “Mark Denning, 62, who owns a 9 bedroom house, in Morebath, North Devon, was breaking rules by secretly buying shares for his own benefit through a secretive fund.” - Dailymail.co.uk
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A wealthy fund manager has been forced to resign from the firm where he worked for 36 years after he was 'secretly collecting shares for his own benefit in the same companies as his investment funds.'
Evidence discovered by a BBC Panorama investigation suggests Mark Denning -who worked for Capital Group - was breaking rules by secretly buying shares for his own benefit through a secretive fund based in Liechtenstein, called Morebath Fund Global Opportunities.
The fund appears to be named after the village of Morebath in North Devon, where he owns a 9 bedroom house and 21 acres of parkland.
Mr Denning had worked at Capital Group until just last month when the firm reported he had left the company on September 9, he had managed a variety of funds for European and US investors.
As well as the property in Devon, the fund manager, who is currently based out in Los Angeles, owns a super-yacht named Alexa of London, which he purchased in 2007, just before the global financial crisis of 2008.
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