Core Viewpoint - A Long Island-based investment advisor, Jeffrey Slothower, has been sentenced to six years in prison for defrauding clients out of over $1 million through fraudulent investment schemes [2]. Group 1: Fraudulent Activities - Slothower used his position to steal over $1 million from clients, fabricating profitable returns to fund personal expenses and pay off credit card bills [2]. - He was convicted of wire fraud, investment advisor fraud, and money laundering, receiving a 72-month prison sentence and ordered to pay over $1.16 million in restitution and forfeiture [2]. Group 2: Background and Operations - Slothower registered as a financial advisor in 2002, working for firms like Goldman Sachs, Northwestern, and Merrill Lynch before running Battery Private, which terminated its SEC registration in 2017 [3]. - He solicited a couple from California, promising to outperform their current investments without market risk, and offered to invest in bonds backed by homeowner's association fees with an 8% return [3][4]. Group 3: Misuse of Funds - The victim sent over $500,000 to Slothower for investment in the promised bonds, but he misappropriated the funds for personal purchases, including a $125,000 Mercedes-Benz SUV and golf club membership dues [4]. - Slothower continued to solicit funds from the victim while falsely claiming to make quarterly distributions, eventually involving the victim's spouse [5]. - Instead of investing the funds, he used the money to pay off credit card debts and make luxury purchases, including a Chanel purse for approximately $6,500, a Rolex watch for $13,000, and $11,000 in Ralph Lauren clothing [6].

Core Viewpoint - Haymarket Insurance Co. has filed a fraud complaint against Leadenhall Capital Partners, highlighting significant financial troubles and losses faced by Leadenhall in its dealings with 777 Partners [1][2]. Group 1: Company Background - Leadenhall Capital Partners is a London-based private equity firm specializing in insurance-linked investments, including catastrophe bonds and private credit [3]. - Founded in 2008, Leadenhall operates as a joint venture with Japan's MS&AD insurance group and holds regulatory registrations in the UK, the U.S., and Bermuda [4]. Group 2: Financial Issues - By late 2022, Leadenhall was experiencing mounting losses beyond its relationship with 777 Partners, leading to increased investor concern and destabilization of its capital base [2]. - The complaint indicates that Leadenhall had approximately $650 million in exposure across four non-777 platforms, which were misrepresented as stable but subsequently faced bankruptcy or regulatory issues [5]. Group 3: Major Problem Assets - Significant problem assets included RMIT and Reverse Mortgage Funding, with Leadenhall claiming over $230 million in secured positions before federal seizure; Friday Health Plans, with about $200 million exposure, was liquidated; and Hi.Q, with roughly $75 million exposure, entered Chapter 7 [6]. - RMIT filed for Chapter 11 in late 2022, facing liquidity pressures and disputes over financing, leading to a prolonged and costly wind-down process [7].

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