SEC charges hedge fund managers with abusing client assets
New York SEC director says two managers “violated the most fundamental duties of an investment adviser"
The US Securities and Exchange Commission (SEC) has announced it has charged two hedge fund managers at Juno Mother Earth Asset Management with abusing client assets.
According to the SEC, Eugenio Verzili and Arturo Rodriguez allegedly misappropriated client assets, inflated assets under management, to a total of $1.8 million, and filed false information with the US regulator.
It is alleged the pair used the funds to pay Juno’s operating costs, including “payroll, rent, travel, meals and
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