The agency alleges the investment adviser made false claims tied to pre-IPO investments, including SpaceX and Klarna, and misused client assets.
William Sarris's former second-in-command, Joseph Endoso, pleaded guilty in August to participating in the alleged scheme.
Maples Group examines how GP entity choices shape borrowing capacity, security structures, lender diligence, and overall fund finance execution across Cayman Islands fund formation.
The regulator alleges the affiliated entities raised over $74 million from 800+ mostly retail investors through 11 funds that charged undisclosed markups.
The order bars a former NPM employee from working at Hiive for a period of three months and from soliciting NPM employees and customers for one year.
Giovanni Pennetta will serve 4 years and pay more than $24 million after misleading investors over access to private company shares.
The ongoing saga between the rival secondary market trading platforms continues to escalate, with new allegations that Hiive solicited employees to access proprietary information.
The secondaries platform is suing rival Hiive for copying elements of its private share transfer and settlement technology.
Prosecutors say that funds managed by a trio raised $185 million from retail investors by selling private company shares at inflated prices.
Prosecutors allege the Manhattan-based adviser misled investors by claiming he could provide access to private company shares he did not own, such as Anduril stock.
