Ridgefield hedge fund manager, firms to pay nearly $13 million in SEC case
Kevin Zimmerman , 22 August 2017
U.S. District Judge for the District of Connecticut Robert N. Chatigny has ordered hedge fund manager Stephen Hicks of Ridgefield and his investment advisory businesses to pay nearly $13 million in a case where the Securities and Exchange Commission alleged he illegally diverted investor money for use by other hedge funds that were illiquid and in need of cash.
The SEC has been actively litigating the case since filing its complaint in 2010 against Hicks and his firms Southridge Capital Management LLC and Southridge Advisors LLC, maintaining that investors were defrauded because they were not told about the transfers of hedge fund assets while they were taking place. Continue reading “Article: Ridgefield hedge fund manager, firms to pay nearly $13 million in SEC case”
