A New Jersey hedge fund executive plans to settle up with
the Securities and Exchange Commission. The Commission announced last week that
the onetime chief investment officer and portfolio manager for the Clay Capital
Fund, and his former firm, have agreed to pay $2.1 million for their part in an
insider trading scheme.
Clay Capital consented to pay $850,000, without admitting or
denying the Commission’s allegations, while Turner acquiesced to a $1.25
million payment....
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