NINGI Research announces short position in Marex Group

NINGI Research announced a short position in Marex Group (MRX), saying in a new research note that they believe Marex has “engaged in a multi-year accounting scheme involving a web of opaque off-balance-sheet entities, fictitious intercompany transactions, and misleading disclosures to conceal significant losses, inflate profits, and mask its true risk exposure.” NINGI also says they have uncovered evidence suggesting that Marex is a “financial house of cards,” and its balance sheet is “riddled with holes and financials” that are “unreliable.”