The hedge fund is no longer honoring redemption requests. It says it hopes to repay its investors in 2017.Platinum has recorded some of the most impressive numbers in the hedge-fund world, double-digit average annual returns for over a decade.
Beginning around 2012, however, with some investors wanting their money back, Platinum began borrowing heavily. According to documents reviewed by The Wall Street Journal and people familiar with the firm, Platinum borrowed hundreds of millions of dollars, some of it at double-digit interest rates.
Full text for WSJ subscribers at: http://www.wsj.com/articles/fraud-inves ... 1469439181
Here is a chart in the article showing one of the hedge fund's "returns":
I hope investors are able to get some of their money back.