{"id":5156,"date":"2011-03-23T00:00:00","date_gmt":"2011-03-23T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2011\/03\/hedge_fund_advisor_juno_mother"},"modified":"2022-04-04T13:25:27","modified_gmt":"2022-04-04T18:25:27","slug":"hedge-fund-advisor-juno-mother","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/hedge-fund-advisor-juno-mother\/","title":{"rendered":"Juno Mother Earth Asset Management LLC and Its Founders Face SEC Securities Fraud Lawsuit Over Alleged $1.8M Looting of Hedge Fund Assets"},"content":{"rendered":"

The US Securities and Exchange Commission has filed a securities fraud<\/a> complaint accusing Juno Mother Earth Asset Management LLC and its founders Arturo Rodriguez and Eugenio Verzilli of looting over $1.8 million in assets from a hedge fund.<\/p>\n

The two hedge fund managers allegedly used the assets to cover Juno\u2019s operating expenses, including rent, payroll, entertainment, and travel. They also are accused of submitting false SEC filings, including telling the SEC that it managed $40 million more than what it in fact did.<\/p>\n

The SEC says that Juno\u2019s partners falsely claimed that they had placed $3 million of their own capital in a client fund, when in fact, they never used their own money. In addition to selling securities in client brokerage and commodity accounts, Juno allegedly directed 41 separate transfers of cash to Juno\u2019s bank account and made false claims that they were expense reimbursements for costs incurred on the client fund\u2019s behalf. Rodriguez and Verzilli then issued false promissory notes to cover up the fraud and make it seem as if the fund had invested money in Juno.<\/p>\n

The SEC further contends that the three defendants marketed investments in the Juno fund but did not reveal that the hedge fund advisor was having financial problems. When offering and selling the securities, Juno would misrepresent and inflate its assets, even claiming at one point that it was managing up to $200 million.<\/p>\n

The government is trying to crack down on hedge fund managers who make it appear as if they\u2019ve invested more personal money than what they\u2019ve actually put in. The agency is seeking disgorgement plus prejudgment interests, permanent injunctions, and civil monetary penalties.<\/p>\n

Related Web Resources: <\/strong>
\nSEC Charges Two Hedge-Fund Managers<\/a>, The Wall Street Journal, March 16, 2011<\/p>\n

Read the SEC Complaint<\/a> (PDF)<\/p>\n

More Blog Posts:<\/strong><\/p>\n

3 Hedge Funds Raided by FBI in Insider Trading Case<\/a>, Stockbroker Fraud Blog, November 3, 2010<\/p>\n

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

The US Securities and Exchange Commission has filed a securities fraud complaint accusing Juno Mother Earth Asset Management LLC and its founders Arturo Rodriguez and Eugenio Verzilli of looting over $1.8 million in assets from a hedge fund. The two hedge fund managers allegedly used the assets to cover Juno\u2019s operating expenses, including rent, payroll, […]<\/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":[3752,3748,3988,3760,3741],"tags":[],"class_list":["post-5156","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-hedge-funds","category-juno-mother-earth-asset-manage","category-sec-enforcement","category-securities-fraud"],"yoast_head":"\nJuno Mother Earth Asset Management LLC and Its Founders Face SEC Securities Fraud Lawsuit Over Alleged $1.8M Looting of Hedge Fund Assets — Investor Lawyers Blog — March 23, 2011<\/title>\n<meta name=\"description\" content=\"The US Securities and Exchange Commission has filed a securities fraud complaint accusing Juno Mother Earth Asset Management LLC 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