Later information is much more vague about this, and one of the core complaints is that he used the management fees of his funds to sponsor companies that arguably competed with holdings of the funds - a serious conflict of interest.

This fund was started with a ridiculous fee structure of 17.5% of total investment upfront, and then apparently no going forward fees. Like a "lifetime VPN" subscription, the economics don't make sense and it is a folly arrangement for all sides.