Hedge Funds

SEC sues integral execs, bans adviser


The Securities and Exchange Commission filed a lawsuit in the federal court in Dallas against Conrad Seghers and James Dickey, the two principals of disgraced Texas hedge fund Integral Investment Management LP, according to wire service reports. The two were charged with fraud for inflating the value of Integral's assets from June 2000 through September 2001, telling investors their holdings were worth anywhere from 13% to 77% per month, thereby misrepresenting the rate of returns. Integral raised over $71.6 million from at least 30 new and existing investors from June 2000 through September 2001, the SEC alleges. Investors