hedge funds are actively<\/a> wooing investors with sports betting vehicles, promoting the ventures as \u201calternative investments\u201d that can help reduce correlations to standard asset classes, such equities and fixed income.<\/p>\nStiff Penalties<\/b><\/h2>\n
Stuart and his company are facing anti-fraud and violating registrations requirements claims from the SEC.<\/p>\n
The commission charges \u201cBettor and Stuart with violations of the registration provisions of Sections 5(a) and 5(c) of the Securities Act of 1933 (“Securities Act”), and the antifraud provisions of Section 17(a)(2) of the Securities Act and Section 10(b) of the Securities Exchange Act of 1934, and Rule 10b-5(b) thereunder,\u201d according to a statement.<\/p>\n
The Securities Act of 1933 and the Securities Exchange Act of 1934 are the primary federal laws under which securities cases are prosecuted.<\/p>\n
Punishment for violating those laws can include fines of up to $5 million, prison sentences of up to five years per count and mandatory restitution<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"Bettor Investments, LLC, a now defunct Nevada company, and its only employee, founder Matthew Stuart, are facing fraud charges from the Securities and Exchange Commission (SEC). In the SEC’s complaint, filed in federal district court in Las Vegas, the commission claims that the company and Stuart raised about $145,500 from 70 clients around the US […]<\/p>\n","protected":false},"author":46,"featured_media":110678,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1074],"tags":[],"acf":[],"yoast_head":"\n
Bettor Investments And Its Founder Are in Trouble With The SEC<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n