{"id":6525,"date":"2018-09-12T14:29:36","date_gmt":"2018-09-12T14:29:36","guid":{"rendered":"http:\/\/www.investorlawyers.com\/?p=6525"},"modified":"2018-09-12T14:29:36","modified_gmt":"2018-09-12T14:29:36","slug":"hedge-fund-fraud-cases-adviser-is-accused-of-short-and-distort-scam-and-digital-asset-manager-faces-misrepresentation-allegations","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/hedge-fund-fraud-cases-adviser-is-accused-of-short-and-distort-scam-and-digital-asset-manager-faces-misrepresentation-allegations\/","title":{"rendered":"Hedge Fund Fraud Cases: Adviser is Accused of Short-and-Distort Scam and Digital Asset Manager Faces Misrepresentation Allegations"},"content":{"rendered":"<p>\t\t\t\tThe SEC has filed fraud charges against hedge fund adviser Gregory Lemelson and his Massachusetts based investment advisory firm Lemelson Capital Management LLC. The regulator is accusing them of illegally profiting over $1.3M from an alleged <a href=\"https:\/\/www.investorlawyers.com\/professional-trader-claims\/hedge-fund-traders\/\">short-and-distort scheme<\/a> that involved Ligand Pharmaceuticals.<\/p>\n<p>According to the<a href=\"https:\/\/www.investorlawyers.com\/professional-trader-claims\/hedge-fund-traders\/\"> hedge fund fraud<\/a> allegations, Lemelson and his investment advisory firm put out false information about the San Diego-based pharmaceutical company after the hedge fund adviser took a short position in Ligand for The Amvona Fund. Lemelson is a part owner and advisor of this other hedge fund.<\/p>\n<p>The SEC\u2019s complaint said that Lemelson\u2019s false statements were meant to rattle investor confidence in Ligand, drive its stock price down, and increase his short-position\u2019s value. He allegedly used interviews, written reports, and social media to disperse the false claims.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/hedge-fund-fraud-cases-adviser-is-accused-of-short-and-distort-scam-and-digital-asset-manager-faces-misrepresentation-allegations\/\"  title=\"Continue Reading Hedge Fund Fraud Cases: Adviser is Accused of Short-and-Distort Scam and Digital Asset Manager Faces Misrepresentation Allegations\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The SEC has filed fraud charges against hedge fund adviser Gregory Lemelson and his Massachusetts based investment advisory firm Lemelson Capital Management LLC. The regulator is accusing them of illegally profiting over $1.3M from an alleged short-and-distort scheme that involved Ligand Pharmaceuticals. According to the hedge fund fraud allegations, Lemelson and his investment advisory firm [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6445,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[4050,3748,3760],"tags":[3147,3148,3149],"class_list":["post-6525","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrencies","category-hedge-funds","category-sec-enforcement","tag-crypto-asset-management-lp","tag-lemelson-capital-management-llc","tag-short-and-distort-scam"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Hedge Fund Fraud Cases: Adviser is Accused of Short-and-Distort Scam and Digital Asset Manager Faces Misrepresentation Allegations &#8212; Investor Lawyers Blog &#8212; September 12, 2018<\/title>\n<meta name=\"description\" content=\"The SEC has filed hedge fund fraud charges against a hedge fund adviser and the investment advisory firm, Lemelson Capital Management LLC.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/hedge-fund-fraud-cases-adviser-is-accused-of-short-and-distort-scam-and-digital-asset-manager-faces-misrepresentation-allegations\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Hedge Fund Fraud Cases: Adviser is Accused of Short-and-Distort Scam and Digital Asset Manager Faces Misrepresentation Allegations &#8212; 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