Ex-Hedge Fund Manager Spared Fine

Jul 21 2011 | 11:36am ET

Roman Lyniuk will never be a hedge fund manager again, but he won't pay for his alleged crimes in the strictest sense of the term.

The Securities and Exchange Commission has waived the $5.2 million fine it planned to impose on the Atlantis Capital Management founder. Lyniuk was found to have defrauded investors by providing misleading performance results and by paying himself and his friends while investors waited for their redemptions.

Lyniuk's fine was waived based on statements he made and documents he submitted to the SEC, though it is unclear what that evidence showed.

Lyniuk has been barred from the investment industry.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...