Utah Man Accused Of Hedge Fund Fraud

Oct 12 2006 | 3:14pm ET

A Utah man has been slapped with an enforcement action over an alleged $14 million hedge fund fraud.

The Commodity Futures Trading Commission filed a civil enforcement action against William Perkins in federal court in Camden, N.J., late last month, alleging his Universe Capital Appreciation commodity pool marketed to investors with less than $100,000. On a Web site, Perkins claimed his “superfund” was returning approximately 100% per year.

In fact, he invested only part of the $43 million he collected between January 2002 and March 2004 in commodity futures. According to the CFTC, he “lost, misappropriated or dissipated” about $13.6 million.

The regulator is seeking disgorgement of ill-gotten gains, restitution and civil penalties.


In Depth

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note