December 28, 2015
David A. Bryson, Bart C. Gutekunst, Richard Pereira
SANCTION AMOUNT: $13,060,170
Defendants: David A. Bryson, Bart C. Gutekunst, Richard Pereira
Former owners and CFO of New Stream Capital, LLC, the hub of a $750-plus million hedge fund complex focused on illiquid investments in asset-based lending, engaged in a fraudulent scheme beginning in 2008 to make changes to the funds capital structure without disclosing those changes to new investors in the funds, who became subordinated. This apparently appeased an old investor and avoided a redemption. The funds ultimately collapsed and new investors were left with significantly lower recoveries.
- Key Docs
- Official SEC press release