Hedge Fund Scum: True Stories about Canyon Partners (Paperback)
This book exposes the loan-to-own practices of the Canyon Partners hedge fund run by Mitch Julis and Josh Friedman. Hedge Fund Scum conveys true stories of how Julis and Friedman have captured hundreds of millions of dollars of property under the guise of being a legitimate lender. Often all or nearly all of their borrowers' money and property was lost when their property was foreclosed upon or when Canyon undertook other actions to capture their borrower's equity. Canyon's borrowers have described Canyon Partners as a "loan-to-own" operation, as opposed to a legitimate lender which just wants to earn the agreed upon interest rate and fees on the loan, and then to be repaid. Canyon has been described as a predatory hedge fund that intentionally turns safe and performing loans into distressed debt. In communications with many of Canyon's borrowers, eerily similar allegations of conduct by the same perpetrators at Canyon Partners have been reported. Several horror stories have been told of lives ruined and life savings lost. Borrowers have said that their promising futures and reputations were destroyed as a result of their dealings with Canyon Partners. This book is part of an ongoing investigation into Canyon's repeated victimizing of their borrowers. The goal is to accurately report these stories and share information gathered as a result of extensive due diligence. All proceeds from book sales go to Canyon Partners News, Inc., a 501 (c) (3) corporation dedicated to exposing the truth about the Canyon Partners' operation.