Long Island Hedge Fund Subpoenaed by SEC

NIR Group, the Long Island hedge fund firm run by Corey Ribotsky, 38, is the focus of an SEC investigation focusing on the performance valuations of its hedge funds. Also under investigation are communications NIR made to investors.

The SEC has said that Mr. Ribotsky also lied about the returns and the holding of an assortment of funds. People familiar with the matter said Corey Ribotsky and NIR Group have defrauded their investors, after poor performance over recent months.

The SEC also requested that NIR provide yearly, monthly and quarterly fund performance returns from January 2004 till the present and all documents related to NIR's internal performance calculation process.

NIR Group was founded by Mr. Ribotsky in 1998 and focuses on small/micro cap companies.

You can go to Corey Ribotsky's personal website here.

Or visit NIR Group

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