SEC alleges that William Sadleir diverted $25m from a BlackRock fund that financed his holding company

Former Reporter

The Securities and Exchange Commission on 22 May filed fraud charges against a Hollywood movie executive for stealing money from a BlackRock fund.

The regulator alleges that William Sadleir diverted some $25m from the BlackRock Multi-Sector Income Trust, a roughly $600m fund that financed his film distribution holding company, Aviron Group. The SEC said Sadleir siphoned the money into a fake company he created.

US watchdog charges Hollywood film executive with fraud

Dawn Lim

BlackRock Multi-Sector Income Trust

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