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prima:Phoenix Fund faces over $45 million in lawsuits and is taken over by OCIF

The fund, which was created by a Law 60 investor, has violated financial laws, according to the regulator

June 18, 2025 - 11:33 AM

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This content was published more than 1 month ago.
According to the order of the OCIF, office directed by Natalia Zequeira Díaz, it is detailed that, allegedly, The Phoenix Fund has "alarming breaches" with its duty of fiduciary and loyalty to its investors. (Alejandro Granadillo)

The Office of the Commissioner of Financial Institutions (OCIF) issued a cease and desist order, appointed a receiver and issued a fine against the private equity fund The Phoenix Fund for alleged and repeated violations of Puerto Rico’s financial laws.

Corrections & Clarifications

June 20, 2025; 12:00 p.m. This story has been updated to correct and clarify that there is no relationship between Dorado Health Group and Dorado Health Inc. An inadvertent error reported that the company in question is the operator of Manatí Medical Center, which is incorrect. Manatí Medical Center is owned and operated by Dorado Health Inc.

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