{"id":5571,"date":"2014-01-25T00:00:00","date_gmt":"2014-01-25T06:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2014\/01\/exoppenheimer_fund_manager_to_1"},"modified":"2022-03-10T16:36:12","modified_gmt":"2022-03-10T22:36:12","slug":"exoppenheimer-fund-manager-to-1","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/exoppenheimer-fund-manager-to-1\/","title":{"rendered":"Ex-Oppenheimer Fund Manager to Pay $100K To Settle Private Equity Fund Fraud Charges"},"content":{"rendered":"\n

Brian Williamson, a former Oppenheimer & Co. (OPY) <\/a>portfolio manager, has consented to a securities industry bar and will pay $100,000 as a penalty to the Securities and Exchange Commission. The settlement resolves private equity fund fraud charges<\/a> accusing him of making misrepresentation about one the value of one fund. In March, Oppenheimer paid over $2.8 million to settle SEC charges related to this matter. <\/p>\n

According to the SEC, Williamson allegedly put out information that falsely claimed that the reported value of the largest investment of one of the funds came from the underlying fund\u2019s portfolio manager when actually, Williamson as the manager of the funds, was the one who gave value to the investment. He purportedly marked up the value significantly higher than what the portfolio manager of the underlying fund had estimated. Williamson then gave prospective fund investors marketing collateral that included a misleading internal return rate that failed to subtract the fund\u2019s expenses and fees. The Commission says Williamson made statements that were misleading and false to different parties to conceal the fraud.<\/p>\n

The SEC\u2019s order says that Williamson was in willful violation of sections and rules of the Securities Exchange Act of 1934, the Securities Act of 1933, and the Investment Advisers Act of 1940. The industry bar against him will run for at least two years. The ex-Oppenheimer fund manager consented to settle without deny or admitting to the securities charges. <\/p>\n

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

Brian Williamson, a former Oppenheimer & Co. (OPY) portfolio manager, has consented to a securities industry bar and will pay $100,000 as a penalty to the Securities and Exchange Commission. The settlement resolves private equity fund fraud charges accusing him of making misrepresentation about one the value of one fund. In March, Oppenheimer paid over […]<\/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":[3752,3786],"tags":[],"class_list":["post-5571","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-oppenheimer"],"yoast_head":"\nEx-Oppenheimer Fund Manager to Pay $100K To Settle Private Equity Fund Fraud Charges — Investor Lawyers Blog — January 25, 2014<\/title>\n<meta name=\"description\" content=\"Brian Williamson, a former Oppenheimer & Co. 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