The Wall Street Journal – A second Stamford, Conn. financial advisory firm has been added to a list of defendants in a civil case brought up by the U.S. Securities and Exchange Commission in connection with a Ponzi scheme uncovered earlier this year, court documents show.
Assets belonging to Highview Point Partners LLC and the three hedge funds it advises were temporarily frozen by the Connecticut district court, according to a statement by the SEC. The company is in possession of funds tied to Francisco Illarramendi, an investment adviser and former consultant to Venezuela’s state oil company Petroleos de Venezuela, who on March 7 admitted to running a Ponzi scheme involving hundreds of millions of dollars over several years.
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