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Legal - SEC charges SF investment adviser and author of `The Hedge Fund Edge` in real estate investment scam, Mendocino County jury convicts SF hedge fund manager of vandalism for trimming trees along popular trail near vacation retreat, U.S. seeks delay of civil case vs. Bear managers
Thursday, August 28, 2008

Opalesque Exclusive: SEC charges SF investment adviser and author of `The Hedge Fund Edge` in real estate investment scam The SEC on Wednesday charged Mark Boucher, a Portola Valley investment adviser and newsletter publisher, with misleading clients into investing in two failed real estate development companies.

According to the Commission, Boucher helped raise around $20 million for the companies by falsely representing that the investments were secured by real estate, when in reality one of the companies owned no property, and the other owned a single property that was wholly underwater in debt.

Boucher has agreed to be barred from serving as investment adviser for 5 years and to pay a $100.000 civil penalty, without admitting or denying the allegations.

The Commission also sued the owners of each company, John E. Brake and Gary P. Johnson (both of Southern California) for misappropriating millions of dollars of investor funds to finance everything from beachfront homes to undisclosed side businesses.

The Commission alleges that many investors became interested because Boucher, a well known hedge fund manager and author of the book "The Hedge Fund Edge" recommended the investments in a monthly newsletter he circulated to his advisory clients. Source

Mendocino County jury convicts SF hedge fund manager of vandalism for trimming trees along popular trail near vacation retreat......................

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