{"id":7242,"date":"2008-03-05T00:00:00","date_gmt":"2008-03-05T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"us-fund-accused-of-fraud-linked-to-subprime","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/03\/2008\/us-fund-accused-of-fraud-linked-to-subprime.html","title":{"rendered":"U.S. fund accused of fraud linked to subprime"},"content":{"rendered":"<p><a href=\"http:\/\/feeds.feedburner.com\/~a\/reuters\/UKFundsNews?a=3xugqv\" target=\"_blank\"><img decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~a\/reuters\/UKFundsNews?i=3xugqv\" border=\"0\" \/><\/a>WASHINGTON (Reuters) &#8211; A Salt Lake City hedge fund adviser and its principals were charged with using much riskier trading strategies than described to investors, resulting in the near-total loss of assets in two funds, the U.S. Securities and Exchange Commission said on Tuesday.<\/p>\n<p>The SEC filed a lawsuit accusing Thompson Consulting Inc, Kyle Thompson, David Condie and Sherman Warner of fraud, saying that the fund&#8217;s deviations from stated investment strategies &#8212; including subprime-related investments &#8212; resulted in losses of about $60 million (30 million pounds).<\/p>\n<p>The SEC is seeking civil penalties and disgorgement of ill-gotten gains against the defendants.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" height=\"1\" src=\"http:\/\/feeds.feedburner.com\/~r\/reuters\/UKFundsNews\/~4\/246008477\" width=\"1\" border=\"0\" \/><br \/><a href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/feeds.feedburner.com\/~r\/reuters\/UKFundsNews\/~3\/246008477\/idUKNOA53192920080305\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>WASHINGTON (Reuters) &#8211; A Salt Lake City hedge fund adviser and its principals were charged with using much riskier trading strategies than described to investors, resulting in the near-total loss of assets in two funds, the U.S. Securities and Exchange [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-7242","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/7242","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=7242"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/7242\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=7242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=7242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=7242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}