Bloomberg – The SEC’s complaint centers on mortgage-backed securities, and the agency alleges that some fraudulent trades were made to meet a margin call. In a March 2007 interview with Bloomberg Television, Priore was already anticipating a reversal in the real estate market.
Priore has encountered legal conflicts before. He ran an investment fund called ICP Strategic Credit Income Fund, started in 2007. The fund, which had about $170 million in total assets, was wiped out by the end of 2009, said an investor who spoke on condition he not be identified because it is privately held.
