WASHINGTON (AFP) - The US Securities and Exchange Commission said Tuesday it has filed civil fraud charges against a financial consulting firm and three of its managers for running an investment scheme that resulted in the loss of 60 million dollars.
The SEC's charges target the Salt Lake City, Utah-based Thompson Consulting Inc., an investment firm that also operated at least two hedge funds, and three hedge fund managers.
The managers, identified as Kyle Thompson, David Condie and Sherman Warner, allegedly used clients' funds to engage in riskier trades than they had marketed to their investors...........
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