Florian Wilhelm Jurgen Homm of Absolute Capital Management, Ltd.
June 2014 FIN Alternatives article entitled “Accused Hedge Fund Fraudster Homm Freed”, containing the following excerpt:
“…But when Italy’s highest court rejected his appeal, the clock started ticking for the U.S., which then had 45 days to secure the extradition. The court ruled Tuesday that Homm had been held in jail longer than allowed and set him free.
Homm left the Pisa jail shortly thereafter and quickly returned to Germany, which does not extradite its own citizens. He was apparently released without Italy giving advance notice to the U.S….”
March 11, 2013 Bloomberg article entitled “Fugitive Fund Manager Stuffed Underwear With Cash, Fled” providing details on the capture of Florian Homm at the Uffizi Museum in Florence, Italy on March 8, 2013.
December 2012 Financial Times article entitled “‘I have chosen the bright side’”
Amazon.com listing for Florian Homm’s book entitled “Rogue Financier: The Adventures of an Estranged Capitalist,” which was published in German in November 2012
2012 You Tube Video entitled “The world is looking for Florian Homm. Join the search!”
April 2011 FIN Alternatives news story entitled “CORRECTION: Absolute Capital Management Leaves Investors Mired In Lawsuits”
February 2011 SEC Litigation Release entitled “SEC CHARGES SECURITIES PROFESSIONALS AND TRADERS IN INTERNATIONAL HEDGE FUND PORTFOLIO PUMPING SCHEME”
February 2011 Money is the Way blog post entitled “Florian Homm charged by the SEC with Portfolio Pumping”
February 2011 Complinet article entitled “Broker’s AML compliance officer sanctioned for not filing SARs, ignoring red flags”
April 2009 eFinancial News article entitled “Troubled Swiss hedge fund manager seeks to delist”
June 2008 Barron’s article entitled “A Money Manager’s Ultimate Fight Game”
November 2007 EuroMoney article entitled “Hedge Funds: Bizarre case of Florian Homm puts the spotlight on AIM”
2007 article from The Independent entitled “Maverick hedge-fund boss Florian Homm’s resignation was a bombshell – worse was to come”
An article from May 2004 states that Germany’s securities watchdog BaFin have suspicions that Homm has engaged in stock price manipulation involving the investment group WCM Beteiligungs- und Grundbesitz AG (WCM.XE). An investigation by the state attorney’s office has begun. Homm is suspected of “scalping.”
In February 2003 German car rental agency Sixt (G.SIX) planned to sue Florian Homm, who charged Sixt with manipulating profits and giving unrealistic revenue growth forecasts. The company intended to move forward if Homm did not retract his statements. Then in March 2003, the Munich department of public prosecution has begun investigations into the actions of Florian Homm, the financial analyst, following the accusation by German vehicle hire group Sixt that he had attempted to influence share prices through false information in order to achieve profits. The accusation related to a study by Swiss asset management company United Zurichfinance (UZF), on which he was reported to have had decisive influence. In 2004, Mr. Homm agreed to pay Euro 70,000 to settle the inquiry.
Subject: Absolute Capital stock plunges 60% following Hohn resignation
Florian Homm, a founder and co-chief investment officer of London listed Absolute Capital Management Holdings, has resigned from the company. In response to the announcement, the stock slumped 60% to 155 pence and is currently trading at 159 pence. The stock is 72% below the yearâ€™s high of 576 pence.
Absolute Capital is not connected to the troubled Australian hedge fund firm with a similar name.
At the ended of June, ACMH had $3.3 billion in assets under management in a dozen funds including long/short equity, activist, emerging market equity and debt, and real estate.
â€œIn the recent market, I have become concerned with the performance of certain of our funds,â€ Homm said. He added that he had contributed â‚¬33 million ($45 million) of his shares in the company to the funds â€œto help investors ride out the instability in the markets. As a result of my actions, those funds ended up positive or neutral for the month.â€
Homm stated that he had â€œa different investment and management philosophy from the current and prior management of ACMHâ€ and had thus decided to resign. He remains the largest single shareholder in ACMH and his ex-wife and children also hold substantial stakes. Homm said that his dispute with management related to inadequate compensation to retain fund managers. Sean Ewing, Absolute Capital’s chairman and chief executive officer was unavailable for comment.
Absolute Capital was listed about three years ago, after it took over the funds and assets of Hommâ€™s former company – FM Ltd.
Homm operates from Majorca and has an office in Switzerland.
In 2004, Homm paid a â‚¬70,000 ($96,000) fine to BaFin, the German financial regulator. The payment, was the result of a complaint by Sixt AG, a German car hire company, which alleged manipulation. BaFin also investigated alleged manipulation following complaints from WCM Beteiligungs und Grundbesitz, a German investment company. At the time Homm, vigorously denied the allegations.
In Jan. 2006, Mr. Homm had threatened to sue Postbank for price manipulation and involve the financial services authority in order to force Postbank to improve its offer.
In Jan. 2006, Epitan Ltd of Australia will issue securities to Absolute Capital Management to raise up to a further $10 million over the next 18 months, subject to certain milestones.
Florian Homm is described in many articles as “colorful.” His nationality is listed as German, yet he appears to reside on the Spanish island of Majorca. One article, critical of Homm, states that he “steers from a mansion in the sunny Majorca by telephone and PC.”
In February of 2005, it was reported that ACM had received a takeover bid from a German company. It was believed that Sean Ewing was not in favor of the sale, but would not oppose it because Florian Homm wanted to accept the bid.
An article from May 2004 states that Germany’s securities watchdog BaFin have suspicions that Homm engaged in stock price manipulation involving the investment group WCM Beteiligungs- und Grundbesitz AG (WCM.XE). An investigation by the state attorney’s office has begun. Homm is suspected of “scalping” The allegations over stock manipulation came after Mr. Homm reversed his “strong sell” rating to a “accumulate” rating on WCM stock.
In February 2003 German car rental agency Sixt (G.SIX) planned to sue Florian Homm, who charged Sixt with manipulating profits and giving unrealistic revenue growth forecasts. The company intended to move forward if Homm didn’t retract his statements. German watchdog, BaFin, also pursued this matter. In 2004, Mr. Homm agreed to pay Euro 70,000 to settle the inquiry. In an interview, one representative from Sixt called the dispute with Homm “a giant mess.”
In March 2003, the Munich department of public prosecution has begun investigations into the actions of Florian Homm, the financial analyst, following the accusation by German vehicle hire group Sixt that he had attempted to influence share prices through false information in order to achieve profits. The accusation related to a study by Swiss asset management company United Zurichfinance (UZF), on which he was reported to have had decisive influence.
In June of 2005, Florian Homm was listed as a new major shareholder in a company called Constantin Film, a German film rights trading company.
In May of 2005, Florian Homm was reported to be causing uproar among German executives and leaders in Chancellor Gerhard Schroder’s Social Democratic Party in Germany. This occurred after his management firm, FM Fund Management Limited, bought large stakes a few different German companies and used the leverage to shake up management. The article called Homm a “boogeyman in Germany.”
In 2004, Florian Homm bought a stake of 26% in Dortmund soccer team Borussia Dortmund.
Florian Homm attended Harvard University. He started his career working for Fidelity Investments and Merrill Lynch.
In 2005, Absolute Return Europe Fund announced changes in management fees from 1.5% of net asset value to an annual rate of 2.0% of the net asset value.
In 2004, Absolute had three funds under management: the Absolute Return Europe, European Catalyst, and the Absolute Germany fund.
In 2004, Biotech EpiTan raised $7.89 million in a private placement with Absolute Return Europe Fund and Mercury Investment Limited.
In 2004, Absolute Capital Management attempted to be listed on the AIM, London’s junior stock exchange. In December of 2004, they pulled the flotation. Representatives from Absolute would not comment on the reason for withdrawal. When they originally attempted to be listed on the AIM, the group’s intentions were to act as a consolidator by taking over smaller hedge funds.
Absolute Capital Management announced they would be taking over the funds and other assets of FM Limited, formerly known as Fortune Management. The founder of FM was Florian Homm.
In July of 2003, the Absolute Return Europe Fund was listed on the ISE, the Irish Stock Exchange. At the time the fund was managing $57.8 million.
Mr. Florian Wilhelm Juergen Homm is listed as a member of the Permanent Delegation of the Republic of Liberia to UNESCO.