IIG Capital

International Investment Group LLC
Company typePrivate
IndustryFinance
Founded1995; 29 years ago (1995)
FounderMartin Silver, David Hu (cofounders)
Headquarters
New York City
,
United States
ProductsTrade finance
Websitewww.iigcapital.com

International Investment Group (IIG) is an American financial institution that specializes in short-term trade finance and commercial finance with a focus on emerging markets. Through its affiliate IIG Capital it provides financing to small and medium-sized merchants, traders and processors with a need for supply chain financing.[1]

David Hu (胡大韦 Hu Dawei), cofounder of IIG Capital, served as its chief investment officer (CIO). In April 2022, Hu was sentenced to 12 years in prison for running a Ponzi scheme, defrauding and scamming customers of more than $120 million. Moreover, Hu fabricated documents to hide his financial losses.[2][3][4] Hu's partner Martin Silver was also found guilty of running the Ponzi scheme.[2][3][5][6]

David Hu's case was handled by the Securities and Commodities Task Force and the United States Department of Justice (DOJ). Attorneys Drew Skinner, Negar Tekeei, and Alex Rossmiller were in charge of prosecuting Hu, and Judge Alvin K. Hellerstein sentenced Hu to 12 years in prison.[3][7][8] The FBI and U.S. Securities and Exchange Commission (SEC) also assisted with the investigation.[3]

  1. ^ Blessing, Sona (2011). Alternative Alternatives: Risk, Returns and Investment Strategy. Wiley Finance. p. 125. ISBN 978-0470683965.
  2. ^ a b Dolmetsch, Chris (2022-04-11). "Investment Chief Gets 12 Years for Running $100 Million Scam". Bloomberg.com. Retrieved 2023-03-06.
  3. ^ a b c d "Former Managing Partner Of Manhattan Investment Advisory Firm Sentenced To 12 Years For Defrauding Investors In An Over $120 Million Ponzi-Like Scheme". www.justice.gov. 2022-04-11. Retrieved 2023-03-06.
  4. ^ "NY Fund Manager Gets 13 Months for $100 Million Ponzi Fraud (1)". news.bloomberglaw.com. Retrieved 2023-03-06.
  5. ^ "Investment Chief Gets 12 Years for Running $100 Million Scam". Washington Post. ISSN 0190-8286. Retrieved 2023-03-06.
  6. ^ Berman, Jeff. "Ex-Head of RIA Sentenced to 12 Years in Prison Over $120M Scam". ThinkAdvisor. Retrieved 2023-03-06.
  7. ^ Cite error: The named reference :7 was invoked but never defined (see the help page).
  8. ^ "United States v. Hu, 20 Cr. 360 (AKH) | Casetext Search + Citator". casetext.com. Retrieved 2023-03-19.