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Expert Report — Charles R. Soha, CFE (StoneTurn Group)
Independent expert report by Charles R. Soha, Certified Fraud Examiner and Managing Director at StoneTurn Group. Analyzes Rose City Fund financial records and finds no misappropriation of funds.
Document Details
Date Filed
July 24, 2023
Agency
Executive Branch
Recipient
U.S. District Court, Northern District of Illinois
File
ExpertReport_Soha_Ikkurty_Final20230725.pdf
579 KB
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UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF ILLINOIS
COMMODITY FUTURES TRADING
COMMISSION
Plaintiff
v.
JAFIA LLC, SAM IKKURTY A/K/A
SREENIVAS I RAO, AND
RAVISHANKAR AVADHANAM,
Defendants,
IKKURTY CAPITAL, LLC D/B/A ROSE
CITY INCOME FUND I, ROSE CITY
INCOME FUND II LP, SENECA
VENTURES, LLC,
Relief Defendants.
Case No. 1:22-cv-02465
Expert Report
of Charles R. Soha, CFE
Respectfully submitted this 25th day of July 2023
/s/_______________________________________________________________
NORTHERN DISTRICT OF ILLINOIS
COMMODITY FUTURES TRADING
COMMISSION
Plaintiff
v.
JAFIA LLC, SAM IKKURTY A/K/A
SREENIVAS I RAO, AND
RAVISHANKAR AVADHANAM,
Defendants,
IKKURTY CAPITAL, LLC D/B/A ROSE
CITY INCOME FUND I, ROSE CITY
INCOME FUND II LP, SENECA
VENTURES, LLC,
Relief Defendants.
Case No. 1:22-cv-02465
Expert Report
of Charles R. Soha, CFE
Respectfully submitted this 25th day of July 2023
/s/_______________________________________________________________
Key Points
No misappropriation of investor funds found
Fund II investors received returns as high as 339.55% in one year
Fund I achieved mean CAGR of 303% for exiting partners
Returns mathematically impossible in a Ponzi scheme
Confirms legitimate DeFi transactions on Ethereum blockchain