A Review Of Michael Ruge

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Ruge commenced elevating money for his Chivas Development Fund in 2001, promising investors he would area The cash with hedge-fund traders who had been “at the best in their profession.”

He joined the Victoria Rotary Club and ingratiated himself with its associates. The method labored. Just one member, who is properly into his 70s and lives within an assisted-living property, invested $seventy five,000 in Ruge’s fund.

That, way too, was a lie. KPMG despatched Ruge a brusque letter reminding him that KPMG has “by no means been engaged as the auditor of Chivas Progress Fund, nor will we acknowledge these kinds of an appointment.”

A part of Ruge’s revenue pitch was that buyers would get cost-free meals and accommodation at the Castle di Tornano in close proximity to Siena, Italy, in which he held court docket, However they must hurry since the rooms have been likely rapidly.

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The Chivas Web Michael Ruge site named Ruge an “achieved entrepreneur and Expert investor” and claimed his business enterprise pursuits had been “almost unerringly financially rewarding.”

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My condolences on the Ruge relatives,my Mom and his Aunt were most effective good friends at 1 time.I grew up with him and his siblings, what a great man he was. I´m sorry which i couldn´t say goodbye. Rest quick my Pal. Trish

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Suggestions and caveats being an strange tax-submitting year starts CRA gives much more time to difficulty tax slips, businesses not get penalty aid By: Michelle Schriver