{"id":32902,"date":"2012-12-10T08:07:08","date_gmt":"2012-12-10T13:07:08","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=32902"},"modified":"2012-12-10T08:09:15","modified_gmt":"2012-12-10T13:09:15","slug":"three-unregistered-brokers-charged-for-improper-sales-of-hedge-fund-interests","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/12\/2012\/three-unregistered-brokers-charged-for-improper-sales-of-hedge-fund-interests.html","title":{"rendered":"Three Unregistered Brokers Charged For Improper Sales Of Hedge Fund Interests"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2011\/04\/sec_building.gi_.top_.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-21845\" title=\"sec_building.gi.top\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2011\/04\/sec_building.gi_.top_-300x208.jpg\" alt=\"\" width=\"300\" height=\"208\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2011\/04\/sec_building.gi_.top_-300x208.jpg 300w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2011\/04\/sec_building.gi_.top_.jpg 495w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>New York (HedgeCo.Net) &#8211; The SEC has charged three brokers who raised funds for an Oregon-based hedge fund manager for failing to register as broker-dealers before engaging in securities transactions.<\/p>\n<p>\u201cBroker-dealer registration is crucial to protecting investors from Ponzi schemes and other scams,\u201d said Marc J. Fagel, Director of the SEC\u2019s San Francisco Regional Office. Registered brokers are subject to regulatory scrutiny, supervisory review, and record-keeping requirements that greatly reduce the risk that their customers become entangled in serious frauds.\u201d<\/p>\n<p>The SEC\u2019s investigation found that Benjamin Daniels of Indio, Calif., Dominic O\u2019Dierno of Portland, Oregon, and Stephen Persad, of Milwaukie, Oregon, each violated the registration requirements of the federal securities laws while they served as primary points of contact between investors and a hedge fund manager named Yusaf Jawed who was charged in September 2012 of running a $37 million Ponzi scheme. They were not charged with having knowledge of or aiding and abetting Jawed\u2019s fraud.<\/p>\n<p>Daniels, O\u2019Dierno, and Persad each agreed to settle the SEC\u2019s charges against them.<\/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 charged three brokers who raised funds for an Oregon-based hedge fund manager for failing to register as broker-dealers before engaging in securities transactions. \u201cBroker-dealer registration is crucial to protecting investors from Ponzi schemes [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,12,3],"tags":[],"class_list":["post-32902","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-fraud","category-hedge-fund-regulation","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/32902","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=32902"}],"version-history":[{"count":3,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/32902\/revisions"}],"predecessor-version":[{"id":32905,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/32902\/revisions\/32905"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=32902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=32902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=32902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}