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U.S. Securities and Exchange Commission

Kirk S. Wright, International Management Associates, LLC, International Management Associates Advisory Group, LLC, et al.

On February 27, 2006, the SEC filed a civil enforcement action against Kirk S. Wright, two investment advisers he controlled, International Management Associates, LLC, International Management Associates Advisory Group, LLC, and seven hedge funds the advisers managed.† According to the complaint, from February 1997 to the present, the defendants fraudulently raised approximately $115 million from about 500 investors by providing them with false information.† Specifically, the SEC alleged that the defendants sent quarterly statements misrepresenting the amount of assets in and the rates of return obtained by the funds.† By 2005, the SEC claimed the defendants had largely dissipated the fundsí assets and did not disclose this to investors.

For more information about the SEC action, you can read Litigation Release No. 19581 (Feb. 28, 2006).

The Court appointed William F. Perkins as Receiver.† If you have questions, you can contact the Receiver at 404-875-5645.

 

http://www.sec.gov/divisions/enforce/claims/intlmanageassoc.htm


Modified: 05/20/2008