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March 15, 2022

Posted  March 15, 2022

Fund manager Eric Malley, his company MG Capital Management LP, and related entities MG Capital Realty Management LLC and MG GP III LP, have agreed to pay $12 million to resolve charges of defrauding investors.  In order to market two real estate funds managed by MG Capital, Malley allegedly made a number of material misrepresentations, including that he’d previously managed two highly successful funds and that investor funds were protected against loss.  In fact, Malley was a real estate broker with no experience managing investments, the prior funds did not exist, and he was misappropriating millions from the new funds.  SEC

Tagged in: Financial and Investment Fraud, Misrepresentations,