SEC charges CFO with securities fraud

The former CFO of a New York-based hedge fund has been charged with
securities fraud by the US market regulator.

The Securities and Exchange
has charged Ezra C Levy with securities fraud for
arranging secret sales of securities from his personal trading account to the
hedge fund accounts at inflated prices to generate “his own illicit profits”, it

Levy, formerly of investment firm Boston Provident LP, made the unauthorized
trades to hedge funds that lost millions of dollars, while he profited to the
tune of more than half a million dollars.

The SEC filed the complaint at the US District Court for the Southern
District of New York.

Further reading:

Schapiro backs IASB-FASB

Related reading