International
oi-Oneindia English Desk
Hindenburg
Research,
led
by
its
founder
Nathan
Anderson,
is
currently
at
the
center
of
a
controversy
fueled
by
mounting
allegations
of
securities
fraud
and
misleading
disclosures,
sending
shockwaves
throughout
the
financial
world.
This
comes
amid
a
court
battle
in
Ontario,
Canada,
where
various
allegations
point
to
securities
fraud
and
suspect
disclosures
made
by
Hindenburg
Research
and
its
leader.
The
investigation
suggests
that
Hindenburg’s
secret
ties
with
other
research
firms,
including
Anson
Funds,
a
Canada-based
fund
operated
by
Moez
Kassam
of
Indian
origin,
may
have
compromised
their
editorial
independence
and
potentially
led
to
unjust
attacks
on
prominent
corporations
like
the
Adani
Group.

According
to
a
report
by
Marketfrauds,
a
Canadian
investigative
news
outlet,
“There
are
multiple
counts
of
securities
fraud
for
both
Nate
Anderson
and
Anson
Funds,
and
we
have
only
reviewed
5%
of
the
material
as
of
the
time
of
writing.” The
report
suggests
that
there
is
a
high
likelihood
of
criminal
charges
against
Anderson
as
soon
as
2025
once
the
complete
array
of
exchanged
materials
reaches
the
Securities
and
Exchange
Commission
(SEC).
Hindenburg’s
abrupt
decision
to
shut
down
operations
caught
many
off
guard,
particularly
its
timing-just
three
days
prior
to
Donald
Trump’s
inauguration.
This
unexpected
closure
has
sparked
speculation
about
the
motivations
and
behind-the-scenes
activities
of
the
company.
The
controversy
intensified
in
November
2024
when
Bloomberg’s
Crack
Research
team
released
a
series
of
reports
detailing
undisclosed
alliances
among
various
short-sellers,
including
Hindenburg
Research.
The
report,
titled
“Short-Sellers’
Secret
Talks
and
Alliances
Emerge
in
Court
Battle,” explored
Hindenburg’s
connections
with
Anson
Funds,
based
in
Canada,
which
is
operated
by
Moez
Kassam.

Anderson
Named
In
Probe
However,
Hindenburg
has
publicly
denied
any
ties
to
Anson,
asserting
that
they
handle
several
leads
from
various
sources
and
maintain
full
editorial
independence.
Following
the
article,
Anderson
also
publicly
denied
any
partnership
with
Anson
or
anyone
else.
However,
leaked
emails
paint
a
different
picture.
Dozens
of
emails
exchanged
between
Hindenburg
and
Sanjeev
Puri
of
Anson
in
2019
over
a
trade
indicate
that
Anson
took
the
editorial
lead,
with
Hindenburg
having
little
to
no
editorial
control.
It
is
still
uncertain
whether
there
were
any
financial
arrangements
between
the
two.
The
Adani
Group,
which
has
notably
refrained
from
suing
the
short-seller,
is
reportedly
conducting
its
own
covert
investigations
with
foreign
intelligence
allies
to
counteract
maligning
narratives.
The
firm
first
came
under
fire
in
January
2023,
when
Hindenburg
released
a
report
that
precipitated
a
staggering
market
valuation
loss
of
over
$150
billion
for
the
conglomerate.
While
the
precise
role
of
Anson
Funds
in
the
ongoing
scrutiny
of
the
Adani
Group
remains
ambiguous,
some
sources
have
hinted
at
potential
connections
to
organised
crime,
further
complicating
the
narrative.
Intriguingly,
Marissa
Siegal
Kassam,
the
spouse
of
Anson’s
founder,
shares
a
professional
history
with
Mahua
Moitra,
who
has
been
prominently
vocal
against
the
Adani
Group,
raising
further
questions
regarding
the
motivations
and
affiliations
behind
these
financial
maneuvers.