Brokerage Firms Sold Infinity Q Diversified Alpha Fund and Volatility Alpha Fund to Investors
The US Securities and Exchange Commission (SEC) has filed civil charges against James Velissaris, the founder and ex-chief investment officer of Infinity Q Capital Management. According to the regulator, Velissaris allegedly overvalued assets by over $1B while “pocketing” tens of millions of dollars in fees.
This is bad news for investors who were marketed and sold the Infinity Q Diversified Alpha mutual fund and the Volatility Alpha private fund by broker-dealers and their financial advisors. The two funds purportedly had about $3B in assets under management.