SEC
Whistleblower
Attorneys

August 22, 2017

Gustavo A. Altuzarra, Christopher R. Chase, Vertical Recovery Management, Vertical Capital Asset Management, Vertical Fund Group

Financial Fraud

SANCTION AMOUNT: $9034957

Defendants: Vertical Recovery Management, Vertical Capital Asset Management, Vertical Fund Group
Gustavo A. Altuzarra, Christopher R. Chase

Settlement with two individual Respondents and three entities they controlled, for making unauthorized loans and using fraudulent straw purchaser transactions to conceal those loans. Allegedly, VRM and VCAM, a Commission-registered investment adviser, made the unauthorized loans from funds they managed to VFG, which were contrary to the disclosed use of proceeds in the funds’ offering materials.

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