Oraclum Capital Founder Vuk Vukovic Charged with Securities Fraud

Vuk Vukovic, the founder and chief investment officer of Oraclum Capital, has been charged with securities fraud and wire fraud by federal prosecutors in Manhattan. The charges, unsealed on September 11, 2026, allege that Vukovic systematically misled investors about the performance of his hedge fund, the Orca Bason Fund, by inflating returns through falsified financial documents. Each charge carries a maximum penalty of 20 years in prison.

The Orca Bason Fund, launched in late 2022, claimed gross returns of 51% over two years, but prosecutors assert that Vukovic overstated specific returns by approximately 10 percentage points. For instance, a prospective investor received statements indicating a 38.44% return in June 2025, while the actual figure was only 16.39%, according to administrator records. The alleged fraud reportedly dates back to at least 2024, with Vukovic distributing falsified monthly statements and brokerage records that reported inflated net asset values.

Federal agents conducted a search of Vukovic's premises on September 9, 2026, just before his initial court appearance. During the search, Vukovic reportedly admitted that some brokerage statements had been falsified but denied personally sending the doctored documents to investors. The U.S. Securities and Exchange Commission (SEC) began its investigation in September 2025, shortly after the fund disclosed it had raised $46 million from 76 investors.

Prior to the U.S. charges, Croatian regulators had already raised concerns about the fund's operations. The Croatian Financial Services Supervisory Authority (Hanfa) banned the distribution of Orca Bason Fund units in July and December 2025 due to improper channels used to attract retail investors, resulting in approximately 3.3 million euros being returned or redirected. This case highlights the importance of accountability in hedge fund operations and the need for independent verification of investment performance.

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Source: KLEA News