Securities
Dec. 23, 2010
Hedge Fund Settles SEC Fraud Claims
A Bay Area hedge fund and three former officers including its general counsel will pay more than $1 million to settle allegations they secretly used a $100 million fund as their personal piggy bank.
Daily Journal Staff Writer
A Bay Area hedge fund and three former officers, including its general counsel, will pay more than $1 million to settle allegations they secretly used a $100 million fund as their personal piggy bank, and sold it subprime auto loans.
The allegations stem from a Securities and Exchange Commission settlement with San Francisco-based American Pegasus Investment Management Inc.
The hedge fund&...
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