Sunday, 2 August 2015
Last updated 2 days ago
Dec 4 2007 | 12:35pm ET
The Securities and Exchange Commission has charged a Michigan hedge fund manager with lying to investors about big investment losses.
According to the regulator, Azure Bay Management’s Daniel Jones told investors that one of his funds had $2.1 million in assets. In reality, the SEC alleges, there were just $200,000 in assets left, which a federal court has now frozen.
In spite of the fund’s losses, Jones allegedly still charged investors some $135,000 in management fees.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…