U.S LAW FIRM SUED OVER $145M OF FAKE FINANCIAL STATEMENTS – THEY CAN NO LONGER TRUST THE INFORMATION

Former UBS-managed private credit lender says it lost approximately $145 million after allegedly relying on fraudulent financial information from the attorney. Financial statements presented during the transaction showed nearly $199 million in assets. The lender now claims those assets did not exist and that actual assets were less than $3,000.

This comes at a time when trust across private credit is already eroded under from valuation disputes, redemption restrictions, markdowns, and increasing scrutiny from investors and regulators.

For months we have covered stories involving TriColor, First Brands, Blue Owl, Cliffwater, Partners Group, and others. The common theme has been simple: Whether investors can trust the information supporting these loans.

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Authorities:
* Financial Times – “Former UBS private credit fund says law firm helped defraud it of $145mn” -June 3, 2026
* Reuters – U.S. prosecutors examining private market valuation practices – June 3, 2026

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