SEC Accuses NY Private Equity Manager Of $9M Fraud

Law360, New York (January 31, 2014, 5:52 PM EST) -- The manager of New York private equity group Camelot Acquisitions Secondary Opportunities Management has been accused of stealing more than $9 million from investors, the U.S. Securities and Exchange Commission announced Thursday.

A New York federal court issued an emergency order to freeze the assets of both Lawrence E. Penn III and his company after the SEC filed a lawsuit detailing the allegations on Thursday. The complaint also names San Francisco businessman Altura S. Ewers, his company Ssecurion LLC, CASOM and its parent organization, The Camelot...
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