Miami-Based Hedge Fund Adviser Settles Fund Deception Allegations

A Miami-based hedge fund adviser and three other associated parties May 29 agreed to pay more than $3.1 million to settle Securities and Exchange Commission allegations that, among other actions, they deceived investors about the financial stake the adviser’s officers had in a fund (In re Guerra).

The SEC identified the respondents in a same-day statement as Quantek Asset Management LLC; Quantek lead executive Javier Guerra; Quantek’s former parent company, Bulltick Capital Markets Holdings LP; and former Quantek operations director Ralph Patino.

According to the commission, Quantek Asset Management, “particularly Patino,” made various misrepresentations between 2006 and 2008 ...