Hedge Funds

Marque highlights added SEC scrutiny


Evidence that the Securities and Exchange Commission is deepening its scrutiny of hedge funds was seen in the recent case against the Marque Millennium Group.

The late 2003 crackdown marked the first time the SEC has charged a senior official of an unregistered hedge fund group for failing to prevent alleged fraud by a firm employee. In its complaint, the SEC claimed that Marque principal, Wilfred Meckel, failed to adequately supervise the firm's former investment chief, Robert Little, who settled fraud allegations by paying $15,000 in a civil suit which alleged that three investors were defrauded of $600,000 between