BOSTON –A civil complaint against a hedge fund manager alleges he defrauded about 75 investors by hiding losses and overstating the fund’s value by about $29 million.
The complaint by the Securities and Exchange Commission also alleges Mark R. Conway tried to make up losses at his Waltham-based firm, Groundswell Partners LLC, by deviating from the fund’s original investment strategy without telling investors.
The SEC alleges Conway, 44, of Waltham, altered documents sent to investors to cover up the alleged misrepresentations in violation of federal securities laws.
