The Joe Pomp Show
Why A $100 Million Hedge Fund Is Targeting Phoenix Suns Owner Mat Ishbia
Apr 9, 2024
Hedge fund targets Phoenix Suns owner Mat Ishbia for potential fraud. Hunterbrook Media's investigative report raises questions about motives. Strategic initiative boosts hedge fund's mortgage lending business, outmaneuvering competitors. Ultimatum impacts broker business, introducing Hunterbrook Media. Monetization strategy of hedge fund-backed newsroom combining shorting stocks and class action lawsuits with news reporting.
11:58
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Quick takeaways
- Concerns over potential mortgage market fraud by Phoenix Suns owner Mat Ishbia's company
- Ethical questions raised by Hunterbrook Media's investigative report and financial interests
Deep dives
Report Accusing Phoenix Suns Owner of Fraud
An investigative report by Hunterbrook Media revealed potential fraudulent activities by Phoenix Suns owner, Matt Ispia's mortgage company, United Wholesale Mortgage. The report highlighted that most independent mortgage brokers were directing almost all their business to UWM, contrary to the industry standards set by the Dodd-Frank Act. This concentration of business raised concerns about fair competition and transparency in the mortgage market.
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