PE Fund Manager Took $9M For Personal Use: SEC

Law360, New York (January 17, 2012, 1:21 PM EST) -- The U.S. Securities and Exchange Commission on Tuesday filed a securities fraud suit in Missouri against a St. Louis-based private equity fund manager, accusing him of bilking investors out of more than $9 million and using the funds for personal expenses.

The SEC says Burton Douglas Morriss, CEO of private equity fund management company Acartha Group, funneled about $9.1 million of investors' funds to himself and his family's holding company from 2005 to 2011. Morriss used the funds to pay off personal loans, make alimony payments...
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Case Information

Case Title

Securites and Exchange Commission v.Morriss et al

Case Number



Missouri Eastern

Nature of Suit



Carol E. Jackson

Date Filed

January 17, 2012

Government Agencies

UK Financial Services

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