How did he pay himself?
Reportedly, Corey and NIR took tens of millions of dollars from NIR funds in fees and incentives, as they continued assigning higher valuations to the illiquid notes they were holding. But, how did they generate the cash to pay themselves? Were they able to actually liquidate enough of that paper- presumably by converting notes to shares and selling them on the open market- to pay themselves the vast sums that were taken out? Or, did they just pay themselves out of new cash that was constantly entering the funds back in the glory days? However, even since 2008, Corey took a vast amount of money from the funds, and presumably there was no new money coming in then. So, how did he go about it?
