{"id":14593,"date":"2010-03-16T04:22:32","date_gmt":"2010-03-16T08:22:32","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=14593"},"modified":"2010-03-16T04:25:19","modified_gmt":"2010-03-16T08:25:19","slug":"sec-charges-texas-hedge-fund-advisor-with-fraud","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/03\/2010\/sec-charges-texas-hedge-fund-advisor-with-fraud.html","title":{"rendered":"SEC Charges Texas Hedge Fund Advisor With Fraud"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/03\/6a00d8341c4df253ef00e54f1de8a88834-800wi.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-14594\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/03\/6a00d8341c4df253ef00e54f1de8a88834-800wi-300x226.jpg\" alt=\"\" width=\"300\" height=\"226\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2010\/03\/6a00d8341c4df253ef00e54f1de8a88834-800wi-300x226.jpg 300w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2010\/03\/6a00d8341c4df253ef00e54f1de8a88834-800wi.jpg 312w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>New York (HedgeCo.net) &#8211; The SEC has filed a federal case against hedge fund advisor Stephen X. Kim and Spyglass Management, L.P. for their roles in allegedly defrauding Spyglass Capital Partners, L.P., a hedge fund managed by Kim through Spyglass, according to court filings.<\/p>\n<p>The SEC complaint, filed in Texas, alleges that between in 2004 and 2006, Kim and Spyglass raised approximately $4.7 million from investors located primarily in Houston, Texas using offering materials that contained misleading information relating to Kim&#8217;s education, business experience, and compensation.<\/p>\n<p>The SEC alleges that Kim and Spyglass failed to employ any hedging strategy to manage risk, causing the hedge fund to loose over $2 million then directing the hedge fund to make approximately $1.7 million in Ponzi payments to investors.<\/p>\n<p>Finally, the SEC alleges that Kim misappropriated approximately $1.5 million of the hedge fund&#8217;s remaining assets to repay several outstanding personal obligations.<\/p>\n<p>Without admitting or denying the allegations, Kim and Spyglass\u00a0 made a\u00a0 settlement with the SEC, pending the approval of the United States District Court for the Southern District of Texas.<\/p>\n<p>Alex Akesson<br \/>\nEditor for <a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.Net<\/a> is a premier <a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\">hedge fund database<\/a> and community for qualified and accredited investors only. Membership in <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.net) &#8211; The SEC has filed a federal case against hedge fund advisor Stephen X. Kim and Spyglass Management, L.P. for their roles in allegedly defrauding Spyglass Capital Partners, L.P., a hedge fund managed by Kim through Spyglass, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,3],"tags":[],"class_list":["post-14593","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-fraud","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/14593","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=14593"}],"version-history":[{"count":4,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/14593\/revisions"}],"predecessor-version":[{"id":14597,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/14593\/revisions\/14597"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=14593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=14593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=14593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}