Two Utah-based fund management companies and their leaders accepted a fraud judgment in a Securities and Exchange Commission suit alleging that they m
Two Utah-based fund management companies and their leaders accepted a fraud judgment in a Securities and Exchange Commission suit alleging that they misled investors, soliciting $2.1 million for foreign currency trading opportunities while falsifying account statements and misappropriating cash for their own benefit.
Executives of Phoenix Outsourced Development LLC and Edger Solutions Management LLC allegedly misrepresented the forexfunds’ fee structure and investment strategies, according to the complaint filed Monday in US District Court for the District of Utah.
All defendants consented to the entry of final judgment in the case, without admitting or denying the allegations, filings show.
Purporting that …
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