Billionaire corporate raider Carl Icahn’s hedge fund has allegedly created a “Ponzi-like economic structure” that has falsely inflated the value of his investments, according to bombshell allegations from a prominent short-seller on Tuesday.
Hindenburg Research — whose other targets lately have included Indian billionaire Gautam Adani and electric-car company Nikola — revealed that it has taken a short position on Icahn Enterprises (IEP) – and said it has “uncovered clear evidence” of “inflated” valuations for some of the holding company’s assets...