{"id":22596,"date":"2011-05-20T06:17:31","date_gmt":"2011-05-20T10:17:31","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=22596"},"modified":"2011-05-20T06:22:22","modified_gmt":"2011-05-20T10:22:22","slug":"sec-charges-connecticut-hedge-fund-manager-in-ponzi-scheme","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/05\/2011\/sec-charges-connecticut-hedge-fund-manager-in-ponzi-scheme.html","title":{"rendered":"SEC Charges Connecticut Hedge Fund Manager in Ponzi Scheme"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2011\/05\/ponzi-scheme-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-22598\" title=\"ponzi-scheme (1)\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2011\/05\/ponzi-scheme-1-300x300.jpg\" alt=\"\" width=\"210\" height=\"210\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2011\/05\/ponzi-scheme-1-300x300.jpg 300w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2011\/05\/ponzi-scheme-1-150x150.jpg 150w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2011\/05\/ponzi-scheme-1.jpg 320w\" sizes=\"auto, (max-width: 210px) 100vw, 210px\" \/><\/a>New York (HedgeCo.net) &#8211; The Securities and Exchange Commission charged Highview Point Partners, LLC., a Connecticut-based hedge fund manager, with engaging in a multi-year Ponzi scheme involving hundreds of millions of dollars.<\/p>\n<p>The SEC also named three hedge funds managed by Highview as relief defendants as they are\u00a0allegedly\u00a0in possession of funds tainted by the Ponzi scheme. The\u00a0Connecticut\u00a0Judge\u00a0responded\u00a0by temporarily freezing the assets of Highview and the three hedge funds. A hearing on the SEC\u2019s motion for a preliminary injunction is set for May 23, 2011.<\/p>\n<p>The SEC complaint alleges that Highview Point Partners, acting through Francisco Illarramendi, the\u00a0former hedge fund manager of\u00a0MK Capital Management, misappropriated money from the three hedge funds it advised, Highview Point Master Fund, Ltd., Highview Point Offshore, Ltd., and Highview Point LP.<\/p>\n<p>Other groups the SEC alleges were also involved in the Ponzi scheme include,\u00a0Michael Kenwood Asset Management LLC, Michael Kenwood Energy and Infrastructure LLC, and MKEI Solar LP. It is seeking\u00a0permanent injunctions, disgorgement and penalties.<\/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 Securities and Exchange Commission charged Highview Point Partners, LLC., a Connecticut-based hedge fund manager, with engaging in a multi-year Ponzi scheme involving hundreds of millions of dollars. The SEC also named three hedge funds managed [&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-22596","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\/22596","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=22596"}],"version-history":[{"count":4,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/22596\/revisions"}],"predecessor-version":[{"id":22605,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/22596\/revisions\/22605"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=22596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=22596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=22596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}