As we’ve discussed, for most of Jay Clayton’s tenure as chairman, the Securities and Exchange Commission’s modus operandi has been to, well, not, whenever possible, especially when it came to those meddling whistleblowers. Now, however, SECers are unable to use that good federal wifi to play Fortnite or take boozy three-hour lunches at taxpayer expense or whatever else it was they were doing while not enforcing things or collecting fines or lackadaisically having a quick rifle through an alleged hedge fund’s papers, and so they’ve decided to, you know, actually do their jobs. And wouldn’t you know it but those usually annoying whistleblowers were totally on to something at TCA Fund Management?
The Securities and Exchange Commission today filed fraud charges against Florida-based investment adviser TCA Fund Management Group Corp. (TCA) and its affiliate, TCA Global Credit Fund GP, Ltd. (TCA-GP), for an alleged fraudulent scheme conducted by TCA to inflate asset values and performance returns of funds it managed.
Looks like those whistleblower stimulus payments are going up again.