Chicago Sun-Times – The U.S. Securities and Exchange Commission claims in a lawsuit Thursday that an investment adviser placed investors’ money in a fraudulent hedge fund.
The SEC filed the lawsuit against Sharon E. Vaughn and her investment advisory company, Directors Financial Group Ltd. The suit claims Vaughn and her group founded and managed a private hedge fund called Directors Performance Fund LLC and told investors in a memo that the fund would be managed to maximize returns using an approved system of trading and investment management.
