The Swiss prosecutor's office raided the office of Tyr Capital due to links with FTX
The office of the cryptocurrency hedge fund Tyr Capital Partners in Geneva was raided by the Swiss prosecutor's office due to investor disputes related to the company's loss after the FTX bankruptcy.
The reason for the searches was an appeal to the Swiss prosecutor's office of the TGT investment fund, which was previously a financial partner of Tyr Capital.
The administration of TGT accuses the management of Tyr Capital of "criminal mismanagement, ignoring internal risk limits, as well as the lack of warnings to investors about the risks of the impact of FTX Group bankruptcy on the combined investment capital."
TGT's statement of claim notes that due to Tyr Capital's criminal mismanagement, the value of the investment company's asset portfolio fell by 84%, and the fund was forced to launch legal liquidation procedures.
Acting through the Swiss prosecutor's office, the TGT administration plans to close financial obligations to investors and take control of the remaining assets under Tyr Capital's management, including a $22 million lawsuit previously filed against FTX.
