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Alternative Market Briefing

Fraud charges against hedge fund manager Chetan Kapur dismissed, Kapur out on time served

Thursday, August 22, 2013

Bailey McCann, Opalesque New York:

Chetan Kapur, head of now defunct hedge fund ThinkStrategy Capital Management, who was serving jail time after allegedly misrepresenting the returns of his hedge fund, is out on time served following sentencing today. Kapur was arrested and has faced civil and criminal charges from both the SEC and the Department of Justice (DoJ) on allegations that he gave investors false information about his hedge fund returns.

On July 17, 2012, DoJ announced a seven-count Indictment with securities fraud, investment adviser fraud, and wire fraud. Kapur was arrested following that announcement and held in jail awaiting trial. In the indictment, Justice alleged that in connection with the marketing and management of the ThinkStrategy Capital Fund and the ThinkStrategy Multi-Strategy Fund, Kapur and ThinkStrategy deceived investors by making false and misleading statements and material omissions, and also by disseminating false and misleading information to the investors. The information included misrepresentations about the prior and current performance, longevity, assets, personnel, and due diligence of ThinkStrategy’s managed fu......................

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