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SEC accuses L.A. hedge fund operators of bilking investors

LA Times – The Securities and Exchange Commission filed a civil lawsuit Thursday against two operators of a Los Angeles hedge fund, accusing them of making false statements about the fund’s performance and misappropriating more than $2 million of clients’ funds.

Alero Odell Mack and Steven Enrico Lopez, who operated Easy Equity Management Inc., allegedly obtained $4 million from 25 investors from 2007 until March of this year by overstating past returns and falsely claiming that Mack had unique access to the New York Stock Exchange trading floor.

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