$25,000 in civil penalties. : Federal officials accused a Yale University graduate for running an unregistered hedge fund while he was a student. Omar Zaki, 21, reportedly made around $1.7 million from 11 clients from January 2017 to February 2018 by selling a biotechnology trading strategy, the Securities and Exchange Commission (SEC) said in a complaint Monday. “Zaki also prepared a written presentation about the Fund which falsely stated that the Fund portfolio was $3 million,” the complaint said. The fund was started in Delaware in November 2016 and was based in New Haven, Connecticut.