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SEC Goes After Hedge Fund Managers

Courthouse News Service – Hedge fund operates took more than $2.5 million in kickbacks while putting clients into grossly overstated Wealth Management LLC accounts, the SEC claims in Federal Court. It sued the hedge fund, its managers James Putman and Simone Fevola, and several relief defendants.

Wealth Management claims to have 447 clients for whom it manages $131 million, $102 million of it in Wealth Management funds, the SEC says.

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