Receiver Appointed Over Firm Accused Of Fraud By SEC

Law360 (May 12, 2020, 6:41 PM EDT) -- A Florida federal judge on Tuesday appointed a receiver over investment firm TCA Fund Management Group Corp. a day after the U.S. Securities and Exchange Commission accused the company of inflating its revenue to investors for nearly a decade, leaving the fund in a dire situation.

The judgment from U.S. District Judge Cecilia M. Altonaga permanently enjoined the fund from any activity that violates federal securities laws and appointed a receiver, identified by the SEC as Jonathan E. Perlman of Genovese Joblove & Battista PA. The receiver will have custody of the company's assets to preserve them for the victims of...

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