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Oraclum Capital Founder Faces Legal Challenges Over Fund Mismanagement
Vuk Vukovic, the founder of Oraclum Capital, is under investigation by federal prosecutors for allegedly misrepresenting the performance of his hedge fund, the ORCA BASON Fund. This scrutiny adds to the growing regulatory issues faced by the firm across various jurisdictions. The ORCA BASON Fund, which launched in early 2023, utilizes a proprietary prediction model originally developed for political forecasting, now applied to financial markets. By late 2024, the fund reportedly managed assets between €23 million and €25 million, claiming gross returns exceeding 50%.
The Croatian financial supervisory authority, Hanfa, has been monitoring Oraclum Capital's activities for several months. In rulings issued in July and December 2025, Hanfa prohibited the distribution and trading of ORCA BASON Fund units within Croatia. The regulator's primary concern was that Oraclum Capital was allowing retail investors to access the fund through a cooperative structure, Zadruga Glas poduzetnika 2.0, which contravenes Croatian law that restricts complex investment funds to professional investors.
Hanfa has mandated that the cooperative cease providing investment services to ineligible small investors and has ordered the return or lawful redirection of approximately €3.3 million in collected funds. Vukovic has been identified as a key figure in the actions that led to this unauthorized service model, raising further questions about the fund's compliance with regulatory standards.
Source: KLEA News