Veras Capital Master Fund et al.

New York, NY: (Mar-22-07) The US Securities and Exchange Commission filed charges against Veras Capital Master Fund, VEY Partners Master Fund, Veras Investment Partners, Kevin Larson, and James McBride for their participation in a fraudulent market timing and late trading scheme. The suit was settled with the SEC announcing the distribution of approximately $38 million in Fair Funds to approximately 810 mutual funds that were victims of Veras' unethical business practices. The funds distributed reflect the entirety of the disgorgement and civil penalties paid by the Veras hedge funds and their principals to settle charges brought against them. The money will be distributed directly to the mutual funds affected by Veras' misconduct. [PEOPLES DAILY: VERAS CAPITAL FRAUD]

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Published on Mar-26-07