Hedge Funds

Colorado files complaint against Ark


The Colorado Securities Commission has filed a complaint against the hedge fund Ark Capital Management Group, Ark Holdings Group and three individuals connected with the firms for alleged violations of securities laws.

Colorado Securities Commissioner Fred Joseph has charged that the three individuals violated the anti-fraud and licensing provisions of the Colorado Securities Act in connection with the marketing and management of Ark, which operated from Parker, Colo.

The complaint alleges that Steven Donnellan of Parker, Todd Keizer of Phoenix, Ariz., and Philip Candy of Rochester, Mich., carried out a scheme to defraud investors through a hedge fund