SEC Charges Two Fund Managers Over Misleading Facebook, Twitter Investments |
| March 16, 2012 | March 2012 Bond Updates |
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One manager, Frank Mazzola, created two funds to buy shares in Facebook and other high profile technology companies, the SEC said today. Mazzola allegedly pocketed more than the 5% percent management fee he ostensibly charged for acquiring Facebook stock and selling the equity to new investors, the SEC said. The hidden charges created a disincentive for Mazzola and his firms, Felix Investments and Facie Libre Management, to negotiate a lower price for fund investors. |
| View more at: http://www.forbes.com/sites/abrambrown/2012/03/14/sec-charges-2-secondary-market-mangers-with-misleading-investors-pocketing-cash/ |
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