February 28, 2022

The Income Collecting 1-3 Months T-Bills Mutual Fund and one of its principals, Victor Chilelli, have consented to judgments ordering the return $77 million to investors; litigation against other defendants continues.  The SEC alleges that defendants, including Ofer Abarbanel, defrauded investors by misrepresenting the planned use of their funds, directing customer funds to shell companies under their control in uncollateralized loan transactions, and misappropriating investor funds for high-risk trading. SEC

Tagged in: Financial and Investment Fraud, Misrepresentations, Securities Fraud,