Cases / Trading, forex & commodities
Tyche Asset Management
Phillip Galles
This entry summarizes public reporting and government filings. Charges and civil complaints are allegations unless a court has entered a conviction or judgment — check the source for the current status.
- Company / entity
- Tyche Asset Management
- Industry
- Commodity futures trading fund
- How investors were recruited
- Pitched in meetings with prospective investors (including an undercover agent)
- Pitch & red flags
- Claimed "annual rates of return exceeding 100 percent" and "annual returns of 336 percent"; "proprietary trading strategies"; claimed the fund "raised over $2 billion within 60 days"; claimed a Kuwaiti sovereign fund and a pro sports team owner as investors
Pitch phrases from this case
- “annual rates of return exceeding 100 percent”
- “annual returns of 336 percent”
- “proprietary trading strategies”
- “raised over $2 billion within 60 days”
Source
U.S. Department of Justice official
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