Seems like Queen Elizabeth Hedge fund (QEHF) is in trouble!
This fund works with the crypto market and manages investors’ funds and is based in London, UK.
Overall, such hedge funds make sure that their clients invest money in legal activities. Also, hedge funds take declarations from clients that their name doesn’t feature on the risky investors' list. If the client is on the list or is involved in some kind of criminal or illegal activity, hedge funds just simply don’t accept their application.
Queen Elizabeth Hedge fund is charged with money laundering using clients’ bank accounts.
What does money laundering using bank accounts mean?
1. Keeping a trustee or accounts number that is not consistent with the business niche, even with nominees transactions.
2. Having several accounts with
cash deposit and high total credit.
3. Receiving and distributing large amounts of money without a business purpose.
4. Providing not much information or creating fictional stories when opening an account.
5. Having several accounts within several hedge funds in one location.
6. Having the same payment number on the same day.
7. Paying in third party cheques.
8. Withdrawing right after receiving a large credit from another country.
9. Contacting cash transactions simultaneously.
10. Using sealed packets actively.
11. Omitting the contact with the branch.
12. Increasing the cash deposit using clients’ accounts, trust accounts, in-house company.
13. Not provided with information that can be valuable for banking services.
14. Omitting regular banking facilities.
15. Receiving payments from many people without explanation.
What is happening now?
The Interpol took Queen Elizabeth hedge fund into consideration and started working on this case on October 10th of 2020. And Financial Police checks every foreign client’s account and every conducted operation. But for now, all funds are blocked!
The Queen Elizabeth hedge fund’s clients are not happy with the current situation since they can not conduct a transaction with their accounts. All hedge fund’s access keys and all technique was collected due to the ongoing investigation. Some of the top managers are under arrest! There is a high chance that Queen Elizabeth hedge fund will be declared bankrupt in the nearest future
since estimated fined are already more than 280 million pounds sterling. And the investigation continues!
Also, there are several financial regulators that are under investigation as well. Among them are three investing funds from the UK and one from Austria.
Clients freak out that they can’t access their accounts and can’t operate their own money. There is a suspicion that Queen Elizabeth hedge fund have been simulating its work and took all the clients’ money to the offshore accounts. And exactly these rumours caught Interpol and Financial Police’s attention.