A group of fund advisers lied to investors about the worst-case scenario for their trading strategy and ultimately lost more than a billion dollars, the SEC told a federal judge in Illinois Thursday.
Anthony J. Caine, two investment advisory firms he controlled, and portfolio manager Anish Parvataneni “crafted an effective, yet false, marketing narrative which touted their purported ‘risk centric’ approach to investing,” the Securities and Exchange Commission says in its complaint filed in the U.S. District Court for the Northern District of Illinois.
The Commodity Futures Trading Commission also sued all four defendants in the same court Thursday.
“We ...
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