Last week, the Securities and Exchange Commission (SEC) charged Michael Moses and his investment advisory firm, Moses Investment Company, with fraud. Moses allegedly lied to his customers numerous times, while raising money for a hedge fund. He raised $1 million for the WAKE Fund I LP from November 2013 until April 2014. Moses allegedly told the investors that their money would be safe with him, claiming that he worked as a Portfolio Manager in 2007 for a $750 million global macro fund, which was false. He also allegedly lied about the safety of the fund, his personal investment in the fund and the performance of the investment strategies. In reality, the SEC claimed that Moses had little fund portfolio management experience, lied about his returns and used risky investment strategies that he did not disclose to his investors. In return, the fund experienced an almost total loss of assets. The SEC will attempt to seek permanent injunction and disgorgement plus interest.
According to his BrokerCheck report with the Financial Industry Regulatory Authority (FINRA), Mr. Moses was previously registered with Gardner Rich & Company from April 1992 until December 1992, Echotrade in Phoenix, Arizona from August 2007 until January 2009 and Merrill Lynch in Denver, Colorado from July 2012 until January 2013. He is currently not registered within the industry and was barred by FINRA in May.
If you suffered losses with Michael Moses and WAKE Fund I, please call our securities law offices based in Chicago, Illinois at 312-332-4200. Attorneys are standing by. The call is free with no obligation. We take cases on a contingency fee basis only, so we only make money if you recover yours.
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