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Currency Trader Allegedly Defrauded Investors Out Of $14M

by marketwatch.com posted 2years ago 3908 views
The Securities and Exchange Commission on Thursday accused a New York City-based trader of defrauding investors out of millions of dollars by covering up trading losses at her currency-focused hedge fund. According to the SEC, since at least January 2012, Haena Park, 40, lied about the profitability of her strategies for trading foreign currencies and futures to solicit investments in her fund, Phaetra Capital. In that time, she raised at least $14 million from more than 30 investors while suffering more than $16 million in trading losses, the SEC said. The complaint alleges Park used fictitious monthly statements to cover...

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