Did You Invest In 3|5|2 Capital ABS Master Fund LP? Contact Silver Law Group

by Silver Law Group

Last Updated September 4, 2025 In News, Ponzi Schemes

Investors in 3|5|2 Capital ABS Master Fund LP (“352 Fund”) are searching for answers after one of its portfolio managers, Jordan Chirico, was criminally indicted and sued by the Securities and Exchange Commission for engaging in fraud and violating federal securities laws.

The 352 Fund was a hedge fund under the umbrella of Jeffries Financial Group’s Leucadia Asset Management, and has come under significant scrutiny for its investment over in excess of $100 million in Water Station Management, LLC (“Water Station”), a water machine company accused of being a Ponzi scheme.

Chirico Indicted For Funneling 352 Fund Money Into Water Station Despite Hidden Conflicts

According to the indictment filed in the Southern District of New York, “[a]s the portfolio manager for the 352 Fund, Chirico was entrusted with investing hundreds of millions of dollars on behalf of the fund’s investors and owed them fiduciary duties of loyalty and care.” According to the indictment:

• Chirico “had a significant personal investment in the water machine company” and “invested millions of the 352 Fund’s assets without fully disclosing his personal stake in Water Station.”
• “After investing the 352 Fund’s money, Chirico sold his interests back to the Water Station without disclosing that he was being paid with bond proceeds originating from, among others, the 352 Fund and its investors.”

Water Station Bankrupt, Also Sued By SEC

The Water Station and affiliates declared bankruptcy several months ago, leaving the 352 Fund and its investors unsure about the prospect of recovery.

The SEC recently filed suit against Water Station and its manager, Ryan Wear, who the SEC alleges “orchestrat[ed] two inter-related Ponzi-like schemes, through which Defendants misappropriated or otherwise diverted tens of millions of dollars in investment proceeds to pay distributions to earlier investors and to fund Wear’s unrelated business ventures.”

Silver Law Group Investigating Potential Claims On Behalf Of 352 Fund Investors

Silver Law Group is investigating potential claims to recover 352 Fund investor losses. If you or someone you know invested in 352 Fund, call Silver Law Group toll free at (800) 975-4345, email ssilver@silverlaw.com for a free and confidential consultation. Most cases are handled on a contingency fee basis, meaning you won’t owe us any money unless and until we recover for you. Your consultation is also free and confidential.

Silver Law Group is a national securities and investment fraud law firm. Our partners routinely handle class actions and other cases involving Ponzi schemes, investment fraud and financial advisor misconduct.