{"id":34480,"date":"2013-03-20T09:28:35","date_gmt":"2013-03-20T13:28:35","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=34480"},"modified":"2013-03-20T16:56:49","modified_gmt":"2013-03-20T20:56:49","slug":"fake-hedge-fund-manager-gets-an-sec-asset-freeze","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/03\/2013\/fake-hedge-fund-manager-gets-an-sec-asset-freeze.html","title":{"rendered":"Fake Hedge Fund Manager Gets An SEC Asset Freeze"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/09\/frozen_money_000007392129XSmalledited-321x285.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-17767\" alt=\"frozen assets\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/09\/frozen_money_000007392129XSmalledited-321x285.jpg\" width=\"341\" height=\"305\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2010\/09\/frozen_money_000007392129XSmalledited-321x285.jpg 341w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2010\/09\/frozen_money_000007392129XSmalledited-321x285-300x268.jpg 300w\" sizes=\"auto, (max-width: 341px) 100vw, 341px\" \/><\/a>New York (HedgeCo.Net) &#8211; The SEC has announced an asset freeze against a Massachusetts-based investment adviser charged with stealing money from clients who were given the false impression they were investing in a hedge fund.<\/p>\n<p>The SEC also says that Gregg D. Caplitz and Insight Onsite Strategic Management in Wilmington, Mass., raised at least $1.1 million from clients that was used for purposes other than investing in the hedge fund they purported to manage. Investor money was merely transferred to the firm&#8217;s chief investment officer and other members of her family who spent it on personal expenses. The firm reported in SEC filings that it has $100 million in assets under management, however the purported hedge fund actually has no assets.<\/p>\n<p>Instead of using investor funds to purchase shares in a hedge fund or to manage or develop a hedge fund, Caplitz transferred control of client money to Rosalind Herman, his friend who works at the firm, the SEC says.<\/p>\n<p>The SEC alleges that as part of his scheme, Caplitz obtained funds from a real estate investment trust (REIT) by falsely representing that a hedge fund he operated was interested in making an investment in that trust. The public, non-traded REIT gave $135,000 to Caplitz so he could conduct due diligence on the REIT as a precursor to his making a $5 million investment that never materialized.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; The SEC has announced an asset freeze against a Massachusetts-based investment adviser charged with stealing money from clients who were given the false impression they were investing in a hedge fund. The SEC also says that [&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-34480","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\/34480","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=34480"}],"version-history":[{"count":5,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/34480\/revisions"}],"predecessor-version":[{"id":34483,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/34480\/revisions\/34483"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=34480"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=34480"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=34480"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}