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Investment fund loses $6 million in BEC scam, suspends operations

Discussion in 'CSO' started by RSS, Sep 19, 2016.

  1. RSS

    RSS New Member Member

    A lawsuit filed on Friday by Tillage Commodities Fund alleges that SS&C Technology showed an egregious lack of diligence and care, when they fell for an email scam that ultimately led to hackers in China looting $5.9 million.

    Tillage says that SS&C didn't follow their own policies, which enabled the theft, but they actually assisted the criminals by fixing transfer orders that had initially failed.

    The lawsuit was filed early Friday morning, and the documents were posted online by the law firm representing Tillage in the case.

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