Article: SEC Brings Fraud Charges Against Another Hedge Fund

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SEC Brings Fraud Charges Against Another Hedge Fund

Stephen Taub, 25 October 2010

Another day, another hedge fund accused of wrong-doing by regulators.

The Securities and Exchange Commission Monday charged hedge fund manager Stephen M. Hicks and his investment advisory businesses with defrauding investors in funds managed by Southridge Capital Management LLC and Southridge Advisors LLC by overvaluing the largest position held by the funds. The SEC also alleges that Ridgefield, Ct.-based Hicks “made material misrepresentations” and misused investor money to pay legal and administrative expenses of other funds managed by Hicks and Southridge. Continue reading “Article: SEC Brings Fraud Charges Against Another Hedge Fund”