Notice to investors: Arrest in the United States related to ORCA BASON Fund
The Croatian Financial Services Supervisory Agency (Hanfa) hereby informs the public that the competent authorities in the United States have arrested Vuk Vuković, founder of Oraclum Capital LLC and Chief Executive Officer and Chief Investment Officer of ORCA BASON Fund, on suspicion of having committed the criminal offences of securities fraud and wire fraud.
Vuk Vuković is alleged to have provided investors with false monthly reports overstating the returns achieved by ORCA BASON Fund. He is also alleged to have provided at least one prospective investor with falsified brokerage statements that overstated the fund’s net asset value and investment performance.
Hanfa recalls that, during its supervisory activities, it identified a number of irregularities relating to the offering and distribution of investments in ORCA BASON Fund in the Republic of Croatia and took appropriate supervisory measures to protect investors.
Accordingly, on 11 July 2025, Hanfa adopted a decision ordering the cessation of, and prohibiting the further unauthorised provision of, investment services related to investments in ORCA BASON Fund, including the unauthorised holding of investors’ funds.
Furthermore, by a decision of 9 December 2025, Hanfa ordered Oraclum Capital LLC to cease and refrain from any further activities in the Republic of Croatia, including the distribution and promotion of units in ORCA BASON Fund. By the same decision, the company was required to inform investors of the measures imposed and of their rights, including their right to the lawful repayment of their funds.
By a subsequent decision of 1 June 2026, Hanfa established that the company had complied with the measures imposed. The prohibitions on the further marketing, distribution and offering of fund units remain in force to the extent specified in Hanfa’s decisions.
During the course of its supervisory proceedings, Hanfa informed the relevant regulatory and other competent authorities in the United States of the facts and circumstances established, taking into account that both the fund and the management company were established in the United States.
Hanfa is disclosing this information in order to protect investors and to highlight the risks associated with investments that are offered or distributed in breach of applicable regulations. Hanfa will continue to keep the public informed in a timely manner of matters relevant to investor protection and the preservation of capital market integrity.
Hanfa also draws the attention of interested investors to the official press release issued by the United States Attorney’s Office for the Southern District of New York regarding this case, available at: https://www.justice.gov/usao-sdny/pr/hedge-fund-founder-charged-scheme-misrepresent-fund-performance-investors
