Thursday, 29 January 2015
Last updated 13 hours 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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…