SEC Charges Mich. Hedge Fund Manager With Fraud

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.


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note