December 15, 2015
Posted January 28, 2016
The SEC announced fraud charges against Connecticut-based investment advisory firm Atlantic Asset Management LLC for investing clients in certain bonds with a hidden financial benefit to the broker-dealer connected to the firm. The SEC alleges that Atlantic invested more than $43 million of client funds in illiquid bonds issued by a native American tribal corporation without disclosing the conflict of interest that the bond sales generated a private placement fee for the broker-dealer, whose parent company partially owns Atlantic. SEC
Tagged in: Regulatory Violations, Securities Fraud,