Pegasus Hedge Funds, Execs Settle SEC Fraud Claims

Law360, New York (December 22, 2010, 2:41 PM EST) -- Two San Francisco investment companies and their upper management have settled claims from the U.S. Securities and Exchange Commission accusing them of defrauding investors in a $100 million subprime hedge fund focused on auto loans.

American Pegasus LDG LLC and American Pegasus Investment Management Inc. former CEO Benjamin P. Chui and former portfolio manager Triffany Mok — who managed the American Pegasus Auto Loan Fund — worked with the company's former general counsel Charles E. Hall Jr. to engage in improper self-dealing, misuse client assets and...
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