Evaluating a Background Investigation Firm

By admin | Published: April 22, 2011

How does a potential investor in a hedge fund or private equity firm evaluate and select a background investigation firm? Here is a video which provides an overview about selecting a background investigation provider:

Background Investigation Database Scams on the Internet

By admin | Published: April 22, 2011

Hedge Fund Background Investigation Articles Lawsuits and Background Check Frequency

Jay D. Singhs Deutsche Bank Folly Due Diligence and Background Investigation for Love or Money?

By admin | Published: April 14, 2011

Here is a recent story regarding resume fraud involving investment firms and dating is concerned anyways. This is the lesson from the story of Jaitass Dhanoa (aka: Jay D. Singh ). Singh is 27 year old gigolo who utilized social networking sites such as Match.com and IndianDating.com to trick unsuspecting victims.

Heres a great song about gigolos:

The interesting part is that he conducted an elaborate identity theft scam to do. In addition to generating fake passports and emails Singh also claimed to work for Deutsche Bank. DealBreaker has an interesting theory on why he picked Deutsche Bank (whose slogan is Passion to Perform ):

Pretend, for a moment, that you are the sort of person who would lie to a female to get what you wanted in the short term. If you figured a (fictional) gig on Wall Street might help you attain certain goals, which firm would you go with? Depending on who the lie was being told do, most hedge funds would probably be out, as a) they’re not household names to the general population and b) should the lady in question happen to know the firm of which you speak, a staff of <1,000 could pose problems should she know someone else who works there and decide to do a background check. Restricted to banks, Goldman would presumably be the (fake) employer many would go with,** unless they wanted to come off as “finance-y, but also man of the people” in which case it’d be Citi. Jay D. Singh chose Deutsche Bank, which apparently worked just fine for quite some time.

Social networks scams are nothing new but they are a growing business on the internet including ones which try to utilizing social engineering techniques and chatbots to steal data from companies such as hedge funds.

Singh also said he worked for the International Monetary Fund. Here is his LinkedIn account which among other things details his MPhil in Financial Engineering and in finance from the PhDUniversity of Cambridge and degrees from Wharton. He also showed the women fake e-mails and a bogus U.S. passport. A victim said he had pretended to be a U.S. citizen because he was afraid Indian American women would see him as a seeking an American wife only for the permanent-resident status marriage could provide.

One victim, was even engaged to marry him until another victim contacted her to disclose the lies. “He created a relationship where I kept falling more and more in love she said. Sounds similar to hedge fund investing.

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