A former Catalyst Capital investment fund portfolio manager misled investors about safeguards that should have prevented more than $700 million in losses in 2017, a federal judge ruled, granting partial summary jugment to the SEC.
Judge William Conley for the U.S. District Court for the Western District of Wisconsin in a Feb. 4 opinion agreed with the Securities and Exchange Commission that Edward Walczak violated parts of the Securities Exchange Act, the Investor Advisers Act, and related rules.
The agency accused Walczak of misrepresenting how he used a sophisticated options analysis software that was supposed to help the multibillion-dollar fund ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.