Having no idea whether or not these two are innocent just gonna go to bat for them now saying the SEC should back the fuck off. These guys are alright, as is anyone who considers hiring Stan O'Neal for the laughs.
Vision Capital Advisors, a $600 million hedge fund led by two visually impaired managers, is under investigation by U.S. securities regulators, according to a confidential document reviewed by Reuters. The focus of the SEC investigation is not clear. But people familiar with Vision, including investors and former employees, said regulators might be examining the methodology the hedge fund has used to put valuations on the equity stakes it has taken in hundreds of struggling small-cap companies.
Vision is led by Adam Benowitz and Randolph "Randy" Cohen, who have been friends since childhood. The pair picked the name Vision Capital because they each suffer from a significant visual impairment: Benowitz is blind in one eye, and Cohen has a degenerative eye disease.
Benowitz and Cohen caused a bit of a stir on Wall Street in fall 2008 when they considered offering a job to Stanley O'Neal, the former Merrill Lynch chief executive officer who was ousted from the investment firm at the beginning of the financial crisis.
SEC Sets Its Sights On Vision Capital [Reuters]