Rocker-Turned-Hedge Fund Manager Settles Fraud Suit

Aug 28 2012 | 11:30am ET

A California hedge fund manager has settled allegations that he misled investors in his funds.

Gary Marks, without admitting or denying wrongdoing, agreed to pay more than $421,000 in disgorgement and fines to end the Securities and Exchange Commission's case against him. The regulator has accused the Sky Bell Asset Management chief of negligently misrepresenting the correlation and diversification among the firm's hedge funds, among other improper actions between 2005 and 2008.

According to the SEC, Marks recommended investors put most of their money into Sky Bell hedge funds while failing to disclose that one was significantly investing in a subadvisor's fund and making misleading statements about liquidity problems in another fund.

In addition to running Sky Bell, which had offices in Florida and Hawaii, Marks is also a rock musician and the co-author of a 2007 investment guide, Rocking Wall Street.


In Depth

Q&A: Quad Advisors’ Borish Is Looking For Real Traders, Not Index Huggers

Aug 20 2014 | 1:43pm ET

Peter Borish, who served as founding partner and director of research at Tudor Investment...

Lifestyle

Viking Manager In Rent Dispute

Aug 11 2014 | 4:14am ET

A hedge fund manager is demanding most of his money back from his former landlord...

Guest Contributor

Majority Of Inflows Go To Brand Name Hedge Funds

Aug 12 2014 | 9:00am ET

Since the market correction of 2008, a vast majority of hedge fund net asset flows...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note