{"id":1206,"date":"2013-02-28T12:03:51","date_gmt":"2013-02-28T12:03:51","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2013\/02\/new_stream_capital_llc_hedge_f"},"modified":"2022-03-10T16:36:00","modified_gmt":"2022-03-10T22:36:00","slug":"new-stream-capital-llc-hedge-f","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/new-stream-capital-llc-hedge-f\/","title":{"rendered":"New Stream Capital LLC Hedge Fund Executives Face Criminal Securities Fraud Charges"},"content":{"rendered":"

\t\t\t\tThe United States has charged Bart Gutekunst, Richard Pereira, and David Bryson, all New Stream Capital LLC hedge fund executives, with securities fraud<\/a>, wire fraud, and conspiracy. Pereira is New Stream’s former CFO. According to US Attorney David Fein, the defendants ran a securities scam to fool investors so they could get and keep up investments partially because they were afraid they would lose their largest fun investor.<\/p>\n

New Stream unveiled new feeder funds in November 2007. It told investors they would have to transfer their investments from a Bermuda-based fund that they were closing to these new ones. However, contend prosecutors, when New Stream’s biggest investor, Gottex Fund Management, intended to redeem its investment in the fund in Bermuda rather than transfer its money to the newer funds, the New Stream executives allegedly came up with a scam to keep the fund going so that the redemption would be reversed.<\/p>\n

They are accused of restructuring New Stream’s structure to make sure Gottex Fund Management was prioritized. 2011, the fund and its affiliates petitioned for bankruptcy protection when their multiple restructuring efforts failed. After the US Bankruptcy Court in Delaware approved the firm’s liquidation plan last year, the funds’ investors were able to recover 7 to 19% of their monies. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The United States has charged Bart Gutekunst, Richard Pereira, and David Bryson, all New Stream Capital LLC hedge fund executives, with securities fraud, wire fraud, and conspiracy. Pereira is New Stream’s former CFO. According to US Attorney David Fein, the defendants ran a securities scam to fool investors so they could get and keep up […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3748],"tags":[],"class_list":["post-1206","post","type-post","status-publish","format-standard","hentry","category-hedge-funds"],"yoast_head":"\nNew Stream Capital LLC Hedge Fund Executives Face Criminal Securities Fraud Charges — Investor Lawyers Blog — February 28, 2013<\/title>\n<meta name=\"description\" content=\"The United States has charged Bart Gutekunst, Richard Pereira, and David Bryson, all New Stream Capital LLC hedge fund executives, with securities fraud, — February 28, 2013\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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