SEC Says Chicago Investment Firm Lied About PE Fund

Law360, New York (November 29, 2012, 6:27 PM EST) -- The U.S. Securities and Exchange Commission on Thursday sued a Chicago-based investment firm alleging the firm illicitly raised $1.3 million by lying to investors about a failing private equity fund and used the investments to pay off other clients to whom it owed money.

The commission says Resources Planning Group Inc. and co-owner Joseph J. Hennessy lured investors to the Midwest Opportunity Fund, which Hennessy also owned, by misrepresenting it as a viable fund that offered high returns.

In fact, the fund was in poor financial...
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Case Information

Case Title

Securities And Exchange Commission v. Resources Planning Group, Inc. et al

Case Number



Illinois Northern

Nature of Suit



Honorable Edmond E. Chang

Date Filed

November 28, 2012

Government Agencies

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