Key facts
- US prosecutors dropped a $300 million fraud indictment.
- The indictment was against a former Prophecy Asset Management executive.
- The executive was accused of working with Brian Kahn.
- Brian Kahn is the founder of Franchise Group Inc.
- The alleged fraud targeted investors in a hedge fund.
US prosecutors have decided to drop a $300 million fraud indictment that had been filed against a former executive associated with Prophecy Asset Management. This executive was previously accused of conspiring with Brian Kahn, the founder of Franchise Group Inc., in a scheme to defraud investors in their hedge fund. The dropping of the charges signifies a significant development in a case that had brought attention to the business dealings of Brian Kahn.