{"id":4209,"date":"2006-03-31T00:00:00","date_gmt":"2006-03-31T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"sec-claims-hedge-fund-falsified-returns","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/03\/2006\/sec-claims-hedge-fund-falsified-returns.html","title":{"rendered":"SEC claims hedge fund falsified returns"},"content":{"rendered":"<p>  MarketWatch &#8211; The Securities and Exchange Commission on Thursday charged securities broker and investment adviser Global Crown Capital LLC with fraudulently hiding from investors the trading losses  of hedge fund Cogent Capital Management.<\/p>\n<div class=\"p\">\n<p>    The agency alleges that Rani Jarkas and Antoine Chaya, principals of San Francisco-based Global Crown, sent misleading account statements to investors in the Cogent hedge fund that falsely    inflated the fund&#8217;s performance.  <\/p>\n<\/div>\n<div class=\"p\">\n<p>    Loulie Genato, an employee of Global Crown, declined to comment and said no one else was immediately available on Thursday.  <\/p>\n<\/div>\n<div class=\"p\">\n<p>    Within three months of Cogent&#8217;s 2003 inception, the fund experienced trading losses of over 20%, according to an order filed by the SEC&#8217;s Division of Enforcement.  <\/p>\n<\/div>\n<div class=\"p\">\n<p>    Rather than disclose the losses to investors, Jarkas and Chaya added an unfunded &#8220;reserve&#8221; of over $200,000 to Cogent&#8217;s balance, the SEC alleges.  <\/p>\n<\/div>\n<p>  <a href=  \"http:\/\/www.google.com\/news\/url?sa=T&amp;ct=us\/3-0&amp;fd=R&amp;url=http:\/\/www.marketwatch.com\/news\/story.asp%3Fguid%3D%257B2C82836F-2A3F-46CE-A573-682DAB3EF0BB%257D%26siteid%3Dgoogle&amp;cid=1105361065\">  Read Complete Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MarketWatch &#8211; The Securities and Exchange Commission on Thursday charged securities broker and investment adviser Global Crown Capital LLC with fraudulently hiding from investors the trading losses of hedge fund Cogent Capital Management. The agency alleges that Rani Jarkas and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4209","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/4209","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=4209"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/4209\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=4209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=4209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=4209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}