Saturday, 18 April 2015
Last updated 11 hours ago
Nov 26 2012 | 12:09pm ET
With all eyes on SAC Capital Partners on the hedge fund fraud front, the Securities and Exchange Commission is weighing a lawsuit on another hedge fund manager.
Peter Eichler, CEO of Aletheia Research and Management, received a Wells notice, indicating that the SEC is likely to bring an enforcement action. The regulator is investigating allegedly improper trading, account manipulation and trade-allocation irregularities.
Aletheia, which manages both long-only funds and a hedge fund, filed for bankruptcy earlier this month. The firm, which once managed as much as $10 billion, is down to just $1.4 billion.
Eichler's lawyer said he would fight any charges leveled by the SEC.
The U.S. Justice Department is also getting involved in Aletheia's endgame, asking to be kept informed of all pleading in the case.
Aletheia last year paid $400,000 to settle SEC charges that it failed to keep sufficient records. It is also involved in a legal battle with private equity firm Proctor Investment Managers, which owns a 10% stake in the company.
Santa Monica, Calif.-based Aletheia listed $50 million in liabilities in its bankruptcy filing Nov. 11.
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…