Investigations

OSIRIS FUND, PETER ZUCK, MICHAEL J. SPAK, JOSEPH C. SPAK, JOHN R. NAJARIAN – INVESTIGATION OF THIRD-PARTIES WHO ASSISTED THEIR ALLEGED FRAUD

Zamansky LLC (“Zamansky”) announces that it is investigating the alleged fraud committed by Osiris Fund Limited Partnership (“Osiris”), Peter Zuck, Michael J. Spak, Joseph C. Spak and John R. Najarian, which operated a hedge fund based in Jersey City, New Jersey.

On August 7, 2012 the New Jersey Attorney General (“NJAG”) and the New Jersey Bureau of Securities (“NJBS”) filed a civil fraud action against Osiris and its officers accusing them of running a $12 million Ponzi scheme.  The Complaint alleges that Osiris: i) from May 2010 through 2011, sent false financial statements to investors reporting a false net asset value (NAV) which overstated its assets by $5-6 million; ii) charged unearned management fees on the inflated NAV; iii) hid Peter Zuck’s prior criminal conviction for theft and securities fraud; and the size of assets and liquidity of his funds; iv) solicited investments in Osiris through misrepresentation; and iii) lost and stole funds through transfers and loans through unauthorized transactions.

Zamansky is investigating the role of third-parties in assisting Osiris’s alleged fraud.  The NJAG and NJBS are seeking an order freezing Osiris’ assets, and damages.  Zamansky is investigating the possibility of investor recoveries from third-parties which aided and abetted Osiris’s fraud.  Zamansky has experience representing investors victimized by fraudulent Ponzi, pricing and other schemes at private equity funds, hedge funds and mutual funds.  Zamansky also has experience litigating claims of aiding and abetting fraud, securities fraud, investment advisor fraud and breach of fiduciary duty.

If you were an investor in Osiris’s funds, and wish to discuss your rights, please contact us for an evaluation. If you have any knowledge about the role of any third-parties which assisted Osiris’s scheme, please contact us with the information. Please contact Jake Zamansky at (212) 742-1414, or by email at jake@zamansky.com.

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