SEC Orders Radio Host-Hedge Fund Manager To Pay $1.7M

Law360, New York (October 20, 2014, 3:50 PM EDT) -- The U.S. Securities and Exchange Commission has ordered a hedge fund manager and conservative talk-radio host to pay $1.7 million after investigating claims he overstated the value of two funds in his John Thomas Capital Management Group LLC.

George Jarkesy and John Thomas Capital were ordered to disgorge proceeds of $1.28 million plus prejudgment interest and a civil penalty of $450,000 for allegedly making material misrepresentations.

"George R. Jarkesy Jr. and John Thomas Capital ... violated the antifraud provisions of the federal securities laws. The [initial decision] orders respondents to cease and desist from further violations," the SEC said in its...

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