Simran Capital Boss Ends SEC's Claims He Lied To Investors

Law360, New York (April 18, 2013, 7:07 PM EDT) -- The head of Chicago-based investment advisory firm Simran Capital Management has agreed to settle a U.S. Securities and Exchange Commission action alleging he lied to representatives of the California Public Employees' Retirement System, the SEC said Thursday.

Umesh Tandon, Simran’s CEO, has agreed to pay about $122,000 and accept a bar from the securities industry, the SEC said.

Tandon allegedly lied about the size of Simran so he could qualify to manage investments for CalPERS, one of the largest institutional investors in the U.S. Large institutional...
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