Securities and Exchange Commission v. Feingold et al

SEC Says PE Firm Defrauded Investors In $1B Fund

The U.S. Securities and Exchange Commission sued a private equity firm in Florida federal court Wednesday, alleging that it defrauded investors in a $1 billion fund by, among other things, falsely promising to segregate their assets and by transferring tens of millions of dollars into bank accounts held by the fund's leading executives.