Financial Adviser – The Securities and Exchange Commission (SEC) has charged a San Francisco-area investment advisor with defrauding investors by placing their investments in his own personal account and by giving them a bogus audit report that embellished the financial performance of the fund.
The SEC alleges that James Michael Murray, 42, of Larkspur, Calif., raised more than $4.5 million from investors in his various funds, including Market Neutral Trading LLC (MNT), a purported hedge fund that claimed to invest primarily in domestic equities.
