Infinity Q CCO settles SEC charges of aiding $1B fraud scheme
By 
Adrianne Appel2022-10-03T18:15:00
The former chief compliance officer of Infinity Q Capital Management helped the founder of the investment adviser conceal a $1 billion overvaluation fraud scheme, according to the Securities and Exchange Commission (SEC).
Scott Lindell, who also formerly served as chief risk officer, head of operations, portfolio manager, and a member of the valuation committee at Infinity Q, agreed to settle with the agency. The SEC’s complaint, filed Friday in U.S. District Court for the Southern District of New York, charged Lindell with violating multiple securities laws in addition to aiding and abetting Infinity Q’s alleged violations of the Advisers Act.
The settlement is subject to court approval; determinations regarding disgorgement, prejudgment interest, civil penalties, and whether to impose an officer-and-director bar will be made by the court later.
Related articles
-
News Brief
Infinity Q founder sentenced to 15 years for fraud scheme
The former chief investment officer and founder of investment adviser Infinity Q Capital Management was sentenced to 15 years in prison and ordered to forfeit $22 million for artificially inflating the values of certain derivatives to defraud investors.
-
ArticleIndictment: Infinity Q founder’s attempts to hide fraud aided by CCO
The Department of Justice charged James Velissaris, the former chief investment officer and founder of Infinity Q Capital Management, for his role in a scheme to defraud investors by overvaluing derivative swap positions.
-
News BriefAMLA: What difference will the agency make in the EU’s fight against moneylaundering?
Europe’s massive financial sector has become a magnet for illicit money flowing through its banks and markets. A new EU agency will be taking the problem head-on to fight against money laundering.
More from Regulatory Enforcement
-
ArticleFormer startup CEO gets 7 years in prison for $175M fraud against JPMorgan Chase
Charlie Javice, a former CEO who duped JPMorgan Chase into purchasing her start up company for $175 million, has been ordered to forfeit more than $22 million by the Department of Justice (DOJ) and to spend 7 years in jail.
-
ArticleGeorgia Tech to pay $875,000 for allegations brought by compliance officers
Georgia Tech Research Corp. (GTRC) has agreed to pay $875,000 to settle allegations first raised by two compliance officers that its cybersecurity protocols violated acceptable standards for defense contractors, the Department of Justice (DOJ) said.
-
ArticleTractor Supply Company hit with $1.35M fine for alleged California privacy violations
Tractor Supply Company has agreed to get into compliance with California’s consumer privacy law and to pay a $1.35 million fine—the largest yet by California—to settle allegations it violated the privacy rights of customers and job applicants.