Hedge Fund News From HedgeCo.Net


SEC Freezes Assets Of Hedge Fund Davian Capital

frozen_money_000007392129XSmalledited-321x285New York (HedgeCo.Net) – The SEC has charged Ohio hedge fund manager Anthony Davian with misappropriating more than $1 million from investors in funds managed by his company, defendant Davian Capital Advisors, LLC.

In July 2008, Davian formed Davian Capital, an unregistered investment adviser, and created LP I as a hedge fund. Davian claimed to have $5 million under management in LP I.

The SEC says that Davian Capital is nothing more than Davian’s personal piggy bank. He has invested only some of his clients’ funds. He used the rest to finance construction of a luxury home for himself, and to buy himself a luxury car, among other things.

The SEC wants to stop the defendants’ ongoing violations of the federal securities laws, to prevent further harm to investors, and to seek disgorgement and civil penalties stemming from defendants’ wrongdoing, among other remedies.

Alex Akesson
For HedgeCo.net
alex@hedgeco.net
HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership in HedgeCo.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!

Related Posts Plugin for WordPress, Blogger...
This entry was posted in Hedge Fund Fraud, hedge fund rulings, HedgeCo News. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>