- The SEC this week charged a small New York hedge fund with acting as an unregistered investment advisor.
- Concord Management earned tens of millions of dollars advising a Russian tycoon, the SEC said.
- The New York Times said the businessman in question was the former Chelsea FC owner Roman Abramovich.
A small, little-known New York hedge fund and its owner made tens of millions of dollars managing money for an unnamed Russian tycoon who has political clout in Moscow, the Securities and Exchange Commission said.
On Tuesday, the US financial watchdog charged Concord Management, based in Westchester County, and its owner, Michael Matlin, with not registering with authorities that they were investing money on behalf of “a wealthy former Russian official widely regarded as having political connections to the Russian Federation.”
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