SEC v. Gregg D. Caplitz, et al., Case No. 1:13-cv-10612 MLW (D. Mass.). On March 18, 2013, the SEC announced it obtained an asset freeze against investment adviser Gregg D. Caplitz. The SEC alleges that Caplitz and Insight Onsite Strategic Management raised more than $1 million from clients. Instead of using investor money to buy shares in a hedge fund or to manage or develop a hedge fund as promised, Caplitz transferred control of client money a friend and others. The investor money was then used to pay for personal expenses. Caplitz also obtained funds from a real estate investment trust (“REIT”) by falsely claiming that a hedge fund he operated was interested in making an investment in that trust. The REIT gave Caplitz money so he could conduct due diligence before making a $5 million investment that never materialized. The SEC charged Caplitz and Insight Onsite Strategic Management with violating Section 10(b) of the Exchange Act and Rule 10b-5, Section 17(a) of the Securities Act, and Sections 206(1) and 206(2) of the Investment Advisers Act. The SEC seeks a injunctive relief, disgorgement, and civil monetary penalties.
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