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EchoStar/Dish Fraud Concerns Are Ignored, BHG Says

Silence from New EchoStar and its Dish Network about allegations of financial impropriety (see 2401230015) should serve as "writing on the wall" for investors, Buxton Helmsley Group said Monday. Apparently tongue in cheek, the investment fund called EchoStar's cancellation of…

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multiple debt exchange offers (see 2401300003) after its last letter "shocking." It said debt exchange offers that weren't canceled were more evidence of fraud. Warning that the company is stripping assets, BHG said creditors "should take immediate action to protect their interests, as they have a real apparent problem (seemingly, ballooning by the day) on their hands with this present Board and management." EchoStar didn't comment.