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While coming back from New Orleans over the weekend. I knew Barron's
would have a story about the Bermuda-based hedge fund, Manhattan
Investments. What I didn't know was that Dr. Van K Tharp was somewhat
involved with David Mobley.
Page 29
" Mobley himself has become a fixture at trading seminars put on by
North Carolina psychologist Van K. Tharp, who has made a career of
counseling both professional and amateur traders in behavioral
self-control. Money really started cascading into Maricopa after June
1997, when Tharp touted Mobley's performance record and called him the
most successful graduate of Tharp's two-year Super Trader Program.
Mobley's investment record was even touted by Tharp in a Forbes magazine
profile of the psychologist. "
"Tharp recently told Barron's in a telephone interview that he thinks so
highly of Mobley that he has put the bulk of his personal wealth into
Maricopa. Tharp's Website, called the International Institute of
Trading Mastery, describes Mobley as a "fantastic trader and
businessman" and a "wonderful human being." "
"Manhattan Investment Fund had defrauded investors out of $300 million
by phonying up the trade and account information sent to its independent
auditors to cover up"monumental" trading losses. "
At first I thought Dr. Van K. Tharp was in on the scam and receiving
kickbacks. But after thinking out it, I think that Dr. Tharp just got
caught up in the wrap.
Anyone close to Dr. Van Tharp? Did he come out with a statement about
David Mobley?
What could an investor do, if he/she invested in an offshore hedge fund
and found it to be like Manhattan Investment Fund? Are there any legal
grounds?
Thanks,
Joe Frabosilio
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