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View More Press Releases by Benchmark Financial Services, Inc.

Press release:

Benchmark Financial Forms Center for Investment Management Investigations (CIMI)

Issued by: Benchmark Financial Services, Inc.

Date: June 22, 2004

Benchmark Financial Services, Inc., a firm specializing in investigations of money management abuses announces the formation of the Center for Investment Management Investigations (CIMI). CIMI will serve as a resource for aggrieved investors and operate a network of firms expert in matters related to investigating money managers, including mutual fund advisers, as well as securities brokerages, pension consultants and actuaries.

"For years Benchmark has in effect served as a repository for information regarding money management malfeasance. By announcing the creation of CIMI we are formally offering services we've been informally providing all along," said Edward Siedle, President of Benchmark.

Creation of CIMI will expand Benchmark's main focus from investigations on behalf of defined benefit pension sponsors to include corporate defined contribution plans, as well as retail products outside pensions such as mutual funds and variable annuities.

"Events of the last year indicate that pension sponsors and other investors are now prepared to peer into the shadows of the money management industry and uncover the truth about how their money is being handled," said Siedle.

Based in Ocean Ridge, Florida, Benchmark was founded in 1999 by Edward Siedle, a former attorney with the SEC's Division of Investment Management from 1983 to 1985. Siedle served as Director of Compliance and legal counsel to one of the nation's largest mutual fund companies from 1985 to 1988. Siedle has been a vocal critic of money management abuses, particularly involving mutual funds and pension consultants. Investigations undertaken by Siedle have included front-running by mutual fund portfolio managers, pension consultant kick-back schemes, illegal "soft dollar" arrangements and hedge fund and venture capital fraud.

Plan sponsors and others may contact CIMI if they seek assistance in identifying or substantiating abuses and expert firms may contact the Center to offer use of their skills or to share information regarding potential investigations.

View More Press Releases by Benchmark Financial Services, Inc.


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