The Securities and Exchange Commission sanctioned a former portfolio manager at investment firm Boulder Investment Advisers for forging documents and misleading the firm’s chief compliance officer to conceal his failure to report personal trades.
An SEC investigation found that Carl Johns failed to report several hundred securities trades in his personal accounts as required under the federal securities laws and the code of ethics at BIA. Johns concealed the trades in quarterly and annual trading reports that he submitted to BIA by altering brokerage statements and other documents that he attached to those reports. He later tried to conceal his misconduct by creating false pre-trade approvals, and misled the firm’s chief compliance officer in her investigation into his improper trading.
