Fresh start for old Charles Schmitt team

Newly founded Oria Capital will take over clean CSA funds and launch an Asian fund of hedge funds.

Ex-CSA executives Jennifer Carver and Brian MacDougall, who discovered and reported an alleged scam to defraud investors by their former CEO, Charles Schmitt, have established a new company from which they plan to re-launch their fund of hedge funds business.

Oria Capital is fully licensed with the Securities and Futures Commission in Hong Kong as an investment advisor. The investment management company, Oria Capital Management, is registered in the Cayman Islands.

Carver, who is CEO of the new company, says that Oria is set to take over the management of the two CSA funds that were untainted by the alleged fraudulent activity. This includes...

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