Mark Denning, who helped to run $300bn of assets at Capital Group, has resigned from his role after he was alleged to have secretly bought shares for his own benefit in some of the same companies as his funds.
Denning allegedly opened a secretive fund based in Liechtenstein, called Morebath Fund Global Opportunities, which apparently is named after the village of Morebath in North Devon, where Denning owns a nine bedroom house and 21 acres of parkland. The fund is bought shares in three companies on Denning's instructions, leaked documents seen by the BBC's Panorama programme show. These companies were Australian medical researcher Mesoblast, Indian film maker Eros International and UK-listed gold miner Hummingbird Resources. The BBC said the stakes in the trio were ultimately held th...
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