January 28, 2016

September 23, 2015

The SEC announced and settled charges against two Philadelphia-area men, William Fretz and John Freeman, and their investment advisory firm, Covenant Capital Management Partners, L.P., for defrauding their friends and family in connection with their private equity fund, Covenant Partners, L.P.  The men sold partnership interests in the fund to family and friends but rather than investing the money as promised, they used it to benefit themselves and a failing business, Keystone Equities Group L.P.  Under the settlement, the respondents will owe approximately $6.8 million to the SEC which will distribute collected money to harmed investors.  SEC

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