Texas Hedge Fund Fraudster Convicted by Jury
"As alleged in the complaint, Seghers and Dickey fraudulently offered the Funds' securities by failing to disclose to investors the substantial losses the Funds incurred and that Seghers was overstating the Funds' assets. Seghers caused the Funds' assets to be overstated by amounts ranging from 13% to 84% per month."
This is a very curious case, as reported.
Technorati Tags: investors, sec, apparently, investment decisions, integral management, curious case, management llc, incurred, conrad, disclose, provisions, press release, liable
In the SEC's complaint, they allege "Seghers controlled the Funds through Integral and Integral's general partner, Integral Management, LLC. Seghers made the investment decisions on behalf of the Funds. From June 2000 through September 2001, with the exception of a three month period, Seghers fraudulently caused the Funds to overstate to investors the value of their investments in the Funds by anywhere from 13% to 77% per month. Consequently, Seghers also misrepresented the Funds' rates of returns. Ultimately, Integral Hedging lost 90% of its value. "
Are they scammers also really bad investors, or is this a very clever scheme by the hedge fund promoters? Dickey has not been ordered to repay any money, and we will watch with interest what happens to Seghers.
Technorati Tags: investors, sec, apparently, investment decisions, integral management, curious case, management llc, incurred, conrad, disclose, provisions, press release, liable
