SEC Fines Fund Adviser Who Called College Clients 'Fools'

By Al Barbarino (August 3, 2022, 7:00 PM EDT) -- The U.S. Securities and Exchange Commission struck a $1.6 million settlement Wednesday with a Connecticut-based private fund adviser and its founder for alleged failures to redeem the investments of two university endowments, claiming that the founder referred to one of the colleges as "fools" in a text message. ...

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