Right Wing Talk Show Host George Jarkesy Charged by the SEC in Hedge Fund Fraud Case

George Jarkesy - Opportunist

George Jarkesy – Opportunist Magazine

George Jarkesy, the 37-year-old Nationally Syndicated right-wing talk show host turned Hedge Fund manager was charged by the SEC on March 23rd for Fraud in his Hedge Fund.

In his radio show George Jarkesy proclaims himself as a “Defender of Capitalism”, and rails against the government manipulating the market to the hurt of investors. Ironically the SEC is charging Jarkesy and John Thomas Capital Management of inflating valuations of the funds’ assets, causing the value of investors’ shares to be overstated and his management and incentive fees to be increased.

Among other charges listed the SEC also details a pump-and-dump scheme where Jarkesy used “fund assets to hire multiple stock promoters in 2010 and 2011 to create an artificial and unsustainable spike in the price of two microcap stocks in which the funds were heavily invested.”

Heavily involved in politics, CampaignMoney.com  reports that George Jarkesy donated $21,000 to Republican political parties in the 2012 election cycle including $5,000 directly from John Thomas Capital Management Group to the campaign of John Roger Williams, and $15,000 to the Republican National Committee.

John Thomas Capital Management is now rebranded to Patriot28, their website does not appear to be accepting new investors or allowing online access to their investors.

More information at the New York Post article and at CourtHouseNews

About Aaron Wormus

Aaron Wormus works as the Managing Director of Website Creation at HedgeCo Networks and has worked with HedgeCo since the end of 2004. Prior to working with HedgeCo Networks, Aaron managed a private consulting firm based in Frankfurt, Germany. During this time he worked implementing back-end systems for clients ranging from telecommunications companies to mining companies and Silicon Valley software distributors. Aaron Wormus is a published author who has studied Information Technology and Journalism in Finland. His written work has been published in various technology magazines, translated into 5 European languages, as well as published book. Aaron regularly speaks at PHP Programming conferences, and is involved in the organization of his local technology user group.
This entry was posted in fraud, Hedge Fund Fraud. Bookmark the permalink.

Comments are closed.