September 18, 2020

FYI: Those Jones, Moore & Associates Audit Opinions Aren’t Worth Much

There probably aren't too many of them floating around out there, but if you happen to see one, see if you can get a second opinion:

The SEC alleges that James Michael Murray raised more than $4.5 million from investors in his various funds including Market Neutral Trading LLC (MNT), a purported hedge fund that claimed to invest primarily in domestic equities. Murray provided MNT investors with a report purportedly prepared by independent auditor Jones, Moore & Associates (JMA). However, JMA is not a legitimate accounting firm but rather a shell company that Murray secretly created and controlled.  

[via SEC]

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