January 28, 2016
Peter Kuperman, QED Benchmark Management, L.L.C.
SANCTION AMOUNT: $2,952,000
Defendants: QED Benchmark Management, L.L.C.
Settlement of charges against a Toronto hedge fund manager and his NY-based firm for avoiding disclosure of heavy losses by using a misleading mixture of hypothetical and actual returns when providing the funds performance history. They allegedly obtained millions from investors based on these misrepresentations, which they then poured into a single penny stock in deviation from the fund's stated strategy. And they allegedly misled investors about the performance and liquidity of the penny stock investment as well.
- Key Docs
- Official SEC press release