From Komfie Manalo, Opalesque Asia: The U.S. financial watchdog on Monday filed a settled civil action before the United States District Court for the Northern District of California against hedge fund manager Gary R. Marks for alleged misrepresentations in selling and recommending his hedge funds.
Gary Marks was the CEO of Sky Bell Asset Management, LLC, a U.S. alternative investment management firm with affiliated offices in Florida and Hawaii. He is also a professional rock singer-songwriter with a 30-year career in the music industry. And he co-authored an investment book called "Rocking Wall Street" in 2007.
In its complaint, the Securities and Exchange Commission (SEC) accused Marks of recommending various funds of funds through Sky Bell Asset, including the Agile Sky Alliance Fund that was co-managed with the Agile Group, PipeLine Investors, Night Watch Partners, and Sky Bell Offshore Partners.
The SEC told the court that complaint alleged that between at least 2005 and September 2007, Marks negligently misrepresented the level of corre......................