Friday, 27 March 2015
Last updated 2 hours ago
May 25 2011 | 1:54am ET
A Los Angeles hedge fund has been ordered to pay more than $7.25 million in disgorgement and civil penalties in a fraud case.
A federal court in California has entered a default judgment against Easy Equity Management, the Securities and Exchange Commission said. The regulator last year accused the firm of defrauding investors of more than $2 million, saying its principals lied to investors while stealing more than half of the $4 million their raised.
The SEC's case against those principals, Alero Mack and Steven Lopez, is continuing.
According to the SEC, the two men lied both about Easy Equity's returns, claiming a 70% return that the SEC says never happened, and about Mack's access to the New York Stock Exchange trading floor.
The judgment against Easy Equity also covered four affiliates of the hedge fund.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…